Fourth quarter sales at Mothercare have dropped. For the 12 weeks to March 30th UK like-for-likes fell by 8.8 per cent with international sales down by 4.9 per cent in constant currency terms. The retailer said that its declining sales can be attributed in part to its programme of deep discounting in the stores it has been closing which has also impacted online sale. 40 UK stores had been closed during the quarter. It had also sold Early Learning Centre to The Entertainer and confirmed that this would help it to deliver around £19 million in annual cost savings.
CEO Mark Newton-Jones said: “We have continued to make significant progress in our final quarter as we continue our strategic transformation to deliver a sustainable and profitable future for Mothercare. The disruption we have seen from both the organisational changes and the UK store closures is now largely behind us.
“We expect a continued impact on our business given the volume of clearance stock we have sold in recent months. Against this background, we remain on track to deliver on our full-year expectations.”
Share