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Mothercare may cut staff bonus targets

Mothercare is reportedly considering cutting targets for its executive team’s bonuses amid tough trading conditions on the high street.

The Sunday Times reports that the retailer’s pay committee is thinking about setting lower hurdles for Mothercare’s top team as the firm’s weakening international performance was likely to lead to “nil or very limited payouts”.

Share payouts for chief executive Mark Newton-Jones in 2014 and 2015 were worth £1.8m and £1.2m.

A source told the newspaper there would be no changes to existing bonus plans and the new targets would only apply only to new payouts.

Pre-tax profits at Mothercare fell by more than 15% to £5.9m in the six months to 31 October 2016.

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