May 18, 2017

Mothercare finds brighter spot in UK after six years

Baby and child retailer Mothercare says it's moving onto the next stage of its turnround plan after producing its first underlying profit in the UK for six years. While total UK sales for the year ending in March were a tad lower, they were up by 1.1 per cent on a like-for-like basis, and international sales rose by 10.6 per cent. It all left pre-tax profits up a shade to £19.7m. The UK business overall still made an annual loss, but a smaller one, down by 31 per cent to £4.4m, and softened significantly by the second half of the year. It has clearly discovered the joys of the internet, with online sales up 7.8 per cent to account for 41 per cent of UK retail sales. Following a difficult start to the year, the UK recovered in the second half, returning to underlying profit for the first time in six years.

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