UK sales down for Mothercare - ToyNews

UK sales down for Mothercare

But the firm enjoys overall growth thanks to a global sales increase of 15 per cent.
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Mothercare’s international arm continued to outperform its UK business, with like-for-like sales down 4.3 per cent at home.

Ian Peacock, chairman of Mothercare commented that the domestic market remained "difficult and competitive."

On the group's UK retail strategy, he said: "Our property restructure and cost reduction programme are progressing well.

"As announced in May, we are targeting a more profitable portfolio of circa 266 UK stores by March 2013. The new store format trials have been well received by customers."

Mothercare and Early Learning Centre stores are being relocated from the High Street and into combined premises in larger, out of town retail parks and shopping centres.

Mothercare now boasts a portfolio 1,289 stores in 55 countries, with 'strong growth' in the Eastern Europe, Asia Pacific and Middle East territories.

Peacock said: "We are further developing our newest market, Latin America, and plan to open stores in Chile for the first time later this year.

"International sales grew by 15.2 per cent on top of strong comparatives of 20.3 per cent in the first quarter last year. During the quarter we opened our 900th overseas store."

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