Mothercare recovery on track
Store revamps continue for revitalised retailer
Mothercare has continued to see sales increase across its new financial year as it programme of new product ranges and store revamps pays off.
Chairman Ian Peacock told shareholders: “Current trading so far in the financial year to March 26 2005 continues in line with expectations, with UK like for like sales for the first 15 weeks to July 9 up 4.8 per cent on the same period last year. Gross margin continues to be satisfactory with five weeks remaining of our summer sale.
“Our turnaround programme is proceeding to plan. In particular, our high street refit programme has made further progress and we now have 63 stores refitted out of 162 stores on the high street.”
Mothercare, which earlier this year described its recovery under chief executive Ben Gordon as ‘extraordinary’, saw UK like-for-like UK store sales increase by 5.9 per cent across the year to March 27.
