Things are looking up for the company…
After Mothercare warned of its “stalling” sales back in November, it has since seen a growth in its current sales.
UK like-for-like sales rose by one per cent in the 13 weeks leading up to 7 January, its online sales helped move sales upwards by 5.5 per cent.
Most of the retailer’s sales now come from online, it makes up 40 per cent of its UK sales. The company recently axed 4.5 sq ft of retail space during the third quarter.
Chief executive Mark Newton-Jones said: “The UK returned to growth following the challenging summer trading period. We maintained our focus on product improvement and full price sales while prudent stock management allowed us to enter the end-of-season-sale after peak trading with less stock than last year. Margin remains within our guidance for the full year.”
“International continues to benefit from currency tailwinds, however underlying performance continues to be mixed in spite of many markets returning to growth. Both China and Russia improved, while the Middle East continues to be challenging.”