Mothercare bucks the trend
International retail sales up 45.7 per cent.
Total group sales for the 13 weeks ended 9 January 2009 were up up 4.2 per cent, UK like-for-like sales up 1.1 per cent and total UK sales down 1.8 per cent (due to planned reduction in space). Direct in Home sales up 15.6 per cent.
Group performance for the year-to-date saw total group sales up 7.2 per cent (up 2.3 per cent on a proforma basis)
UK like-for-like sales up 0.9 per cent; total UK sales up 2.8 per cent (down 1.9 per cent on a proforma basis due to planned reduction in space).
Ben Gordon, Chief Executive said:’In the UK our multi-channel business has again grown like-for-like sales in a difficult market, boosted by strong performances from Direct and the Early Learning Centre inserts now in Mothercare stores. The winter sale is progressing well and we enter the new season with a clean stock position. Our balance sheet and cash flow remain strong and the group is debt free and cash positive. We continue to manage the business tightly and we currently anticipate that profits for the full financial year will be in line with expectations.’
