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Mothercare sales benefit from online growth

Thursday January 14th 2016

Mothercare increased its UK like-for-like sales by 4.2% in its third quarter after benefiting from online sales growth of 11.8%.

In the 13 weeks to 9 January, total UK sales edged down 0.1% as an improved online and store performance made up for a 6.1% year-on-year reduction in store space.

During the period, Mothercare continued to reconfigure its store portfolio and had 41 stores, 25% of space, refurbished and trading in the new format in time for peak trading.

International retail sales were down 1.3% in constant currency and down 9.5% in actual currency as a result of previously highlighted economic and currency headwinds.

Mark Newton-Jones, chief executive of Mothercare, said: "Overall group performance remains in line with market expectations, with our UK performance further improving and international continuing to be challenging.

"In the UK we have delivered healthy like-for-like sale growth, helped by a strong online performance. We maintained our full price approach and entered the end-of-season sale after peak trading, albeit with higher stock levels as a result of the unseasonably warmer weather. Margins have been preserved and remain within our guidance for the full year.

"We remain firmly focused on our strategy to build our businesses both in the UK and internationally and our vision remains clear - to be the leading global retailer for parents and young children."

Tags: retail