Apr 12, 2018
Mothercare slows sales decline despite ‘muted’ trading environment
Mothercare, the struggling children's goods retailer that abruptly replaced its chief executive this month, has reported a decline in quarterly sales as it continues to explore financing options and close shops. The company, which is one of a group of traditional retailers to have run into trouble because of large store estates and lacklustre consumer sentiment, said like-for-like sales in its core UK business fell 2.8 per cent in the 12 weeks to March 24 compared to the same period last year. International sales during the quarter fell by 3.7 per cent in constant currencies and were 11 per cent lower at actual exchange rates, Mothercare said. Its online division did better with sales rising 2.1 per cent. Clive Black, a retail analyst at stockbroker Shore Capital, took a relatively positive view on Mothercare's sales update, pointing out that the 2.8 per cent sales fall "Pleasingly shows some improvement on trading in the third quarter, when a disappointment was the key emotion."
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