Baby steps for British sales at Mothercare: Firm encouraged by new figures
SHARES in baby goods retailer Mothercare bounced on hopes of new life for its UK sales.
The group – whose British business was battered in the downturn and competition from supermarkets and online firms – said sales at its 220 stores had dropped 0.3 per cent in the 12 weeks to March 29.
That compares with a 4 per cent drop in the previous quarter, when it was hit by rivals discounting at Christmas, forcing a profit warning.
Shares rose 23.p to 187p. Online sales increased 1.8 per cent and accounted for 29 per cent of the total for the period.
Mothercare is currently under the leadership of interim chief executive Mark Newton-Jones, following the departure of Simon Calver in February.
The company insisted there was strong demand for clothing designed by celebrities, such as Jools Oliver and Myleene Klass, as well as its navy blue Bugaboo prams.
Chairman Alan Parker, who is still searching for a permanent boss, said he was “encouraged” by the figures.
Group sales rose 0.6 per cent in the period, with demand at its 1,221 international stores up 9.8 per cent.
Broker Hargreaves Lansdown said the firm remained in a “tough place”.
