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Mothercare's UK like-for-like sales rise 1.9 percent in Q1

By Prachi Singh

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Report

UK like-for-like sales at Mothercare, for the 15 week period to July 8 2017 increased 1.9 percent. The company said, it entered the end of season sale with lower stocks and are achieving a higher sell through rate. The company’s online sales grew by 3.3 percent but total UK sales were lower than last year, reflecting on-going store closure programme. Retail space at the end of the quarter reduced to 1.4m sq. ft., with 147 stores including 143 Mothercare and four ELC.

Commenting on the first quarter trading update, Mark Newton-Jones, Chief Executive Officer of Mothercare said in a press release: “We have continued to make progress in the UK during the period. Whilst online sales recorded a lower growth, in contrast to higher sales growth in store, we don’t believe this represents an underlying permanent shift in customer behaviour. In our international business, the challenging economic conditions in the Middle East continue and are impacting overall performance, and so the outlook remains volatile.”

International retail sales were down 8.3 percent in constant currency and up 2.2 percent in actual currency, primarily driven by continued weakness in the Middle East. Online sales growth was 53 percent in constant currency and 78 percent in actual currency.

The company opened 26 stores and closed 43 during the period, mainly driven by market exits as it consolidated partners, including Kazakhstan, ending the quarter with 1,133 stores.

Picture:Facebook/Mothercare

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