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Mothercare 3q Sales Up 3%

(Filed Under Financial and General Interest News). Mothercare PLC, a U.K.-based retailer of maternity and nursing apparel, reported a 3 percent increase in worldwide sales for the company’s fiscal third quarter ended Jan. 7, 2012.

Same-store sales in the U.K. alone fell 3 percent, while total U.K. sales were down 6.9 percent, due mainly to planned store closures. International retail sales jumped up 15 percent, or 18.5 percent at constant exchange rates. During the quarter, the company launched in four new countries: Chile, Colombia, Iraq and Morocco.

Executive chairman Alan Parker said the increase in sales worldwide was a part of an international growth trend the company has been seeing over the past few quarters. "The sales performance was achieved in an increasingly competitive environment," stated Parker. "The management actions we have already taken — which include a new web platform to launch next financial year — are expected to improve direct and overall performance in 2012."

Parker added the search for a new company C.E.O. was progressing. Former C.E.O. Ben Gordon stepped down in November 2011.

Mothercare PLC operates over 1,000 stores in over 50 countries.

more Financial and General Interest News >>

Published 01-17-2012 by Katherine Rautenberg

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