Mothercare maintains strong growth
Babycare chain Mothercare today unveiled a fresh rise in sales amid strong demand for summer products.
UK like-for-like sales rose 5.1% in the 15 weeks to July 10 as the retailer enjoyed further positive trading at its Early Learning Centre (ELC) business.
The improvement builds on the 1.4% rise in same-store sales seen in the company’s last financial year, when profits rose 12.4% to £37.1m (€43.18m).
Sales at Mothercare’s international franchise arm, which has 639 overseas stores including 16 in Ireland, jumped 32.7% as the division benefited from a weak pound and new stores.
Speaking ahead of the company’s annual meeting, chairman Ian Peacock said growth in the UK business reflected the success of ELC ranges within Mothercare stores and strong demand for summer items.
He added: “Whilst this has been a positive start to the year, we continue to manage the business tightly in an uncertain global consumer environment.”
Mothercare, which acquired ELC for £85m (€99m) in June 2007, said its summer sale was going to plan, leaving it with a clean stock position at the start of the new season.
A partnership with musician and presenter Myleene Klass for the Baby K range had been successful in the UK and internationally and Mothercare plans to extend the label into its home and travel sectors.
Mothercare has more than 1,000 stores in 51 countries, with plans to open 100 more international shops during this year.
