UK decline drags down Mothercare sales
MOTHER and baby retailer Mothercare today reported a 3.4 per cent decline in first quarter group sales, with its UK division impacted by the increasingly promotional nature of the market.
UK like-for-like sales fell by 0.9 per cent, despite a 14.6 per cent increase in online sales.
The British retailer closed 13 unprofitable stores in the UK during the first quarter of the year.
However, international sales grew by 11.3 per cent and the firm now has stores across 60 countries.
“As planned, we are continuing to close loss making stores and pressing ahead with our cost saving initiatives,” said chief executive Simon Calver.
“Trading conditions have been challenging both in the UK and across our Eurozone markets and are expected to remain so for the rest of the year.”