Nov 24, 2016
Mothercare slips to loss as UK sales fall
It reported a loss of £800,000 for the six months to 8 October, compared with a £5.8m profit last year. "The last six months have been challenging," the company said. Mothercare is in the midst of a turnaround plan that has seen it close loss-making branches and relocate many High Street shops out of town. Mothercare said that unseasonal weather during spring and summer led to bigger price cuts in order to shift stock. Mothercare's overseas arm performed better with profits climbing 4.1% to £20.8m, although international like-for-like sales fell 2.9%. "While sales are still volatile across the globe, many of our markets have now returned to growth," said Mothercare chief executive Mark Newton-Jones.
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