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Mothercare sales and profits edge up as turnaround continues

Mothercare has announced a jump in worldwide sales, up by 6.3% to £1.2bn for the full year to 25 March 2017, while underlying profits are up by 1% to £19.7m.

The company confirmed the figures in its annual report. Clothing and footwear sales made up 31.8% of UK sales, and 65.7% of international sales. UK like for like sales were up by 1.1%, while the UK reduced losses by 31% to £35.2m.

Commenting on the results, chief executive Mark Newton-Jones said: “This year marks the third year of our turnaround and I am very pleased to report that we have continued to make good progress, despite some challenging conditions in this past year. The UK has returned to underlying profit in the second half of the year for the first time in six years.”

“In the UK, we have closed unprofitable stores, transitioned the store portfolio to two-thirds out of town and one-third in town, and 70% of our UK store estate is now refurbished in the new club format. We now have an agile store estate with an average lease length of five years.”

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