Mothercare reports slower sales growth
19/10/2006 - 08:38:55Retailer Mothercare today said its UK business continued to perform well, despite failing to match growth rates seen earlier in the year.
The business posted a like-for-like sales rise of 1.4% for the 13 weeks to October 14, against a gain of 2.3% seen in the previous quarter.
Mothercare shares fell 2% even though chief executive Ben Gordon said the UK business had done well in a difficult trading environment.
He also pointed to quarterly sales growth of 27% in Mothercare’s international business, which has opened 34 stores in the current year – including a 14th store in Russia. Mothercare now has 300 overseas franchise stores.
