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Mothercare reports solid third quarter

Mothercare saw UK like-for-like sales rise 1.1% for the 13 weeks ended January 9.

Mothercare’s total UK sales fell by 1.8% due to a planned reduction in space but total group sales rose 4.2% on the back of a strong performance overseas. International retail sales rose 49.1%. Internet and mail order sales were up 15.6%.

Mothercare’s UK like-for-like sales for the year-to-date were up 0.9%. Total UK sales are down 2.8%.

International retail sales for the year-to-date are ahead by 45.7%.

Mothercare chief executive Ben Gordon said: “The Mothercare group has performed well in the third quarter reflecting strength and resilience of the Mothercare and Early Learning Centre brands around the world.”

“International is having a record year. We opened the group’s 1,000th store worldwide in Dubai in December. We now have 1,011 stores worldwide including 603 Mothercare and Early Leaning Centre stores outside the UK in 50 countries.”

“In the UK our multi-channel business has again grown like-for-like sales in a difficult market, boosted by strong performances from Direct and the Early Learning Centre inserts now in Mothercare stores. The winter sale is progressing well and we enter the new season with a clean stock position. Our balance sheet and cash flow remain strong and the group is debt free and cash positive. We continue to manage the business tightly and we currently anticipate that profits for the full financial year will be in line with expectations.”

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