Tough six months for Mothercare

For the six months to October 6th, Mothercare recorded a drop in its UK sales of 14.3 per cent to £196.2 million, like-for-like the fall was 11 per cent. Of this retail stores had fallen by 13.8 per cent and online sales were down by 7.8 per cent. Total group revenues, including international sales, dropped by 13.1 per cent to £295 million.

The business will close 60 stores by June 2019 incurring up to 900 job losses, leaving it with 77 stores in total.

CEO Mark Newton-Jones said: “Our international business is showing signs of recovery after a difficult few years, and some core markets, including Russia, China and Indonesia, have moved into growth. The UK retail environment, however, remains very challenging and, given the ongoing uncertainty with consumer confidence, alongside the short-term impacts of our operational changes and restructuring programme, we expect performance in the remainder of our financial year to remain volatile.”

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