Resilient performance from Mothercare
Company sales for the 15 weeks ended 8th July 2005 were up 3.3%.
International business has continued to grow strongly helping to offset the tougher trading conditions in the UK.
Total UK sales for the 15 weeks ended 8th July 2005 were up 0.1 per cent. UK store like for like sales were down 1.8 per cent.Taking account of growth in the Direct business, UK like for like sales were down 1.4 per cent. Last year in the 15 weeks to 9th July 2004, UK like for like sales were up 4.8%.
Mothercare said the timing of Easter compared to last year had impacted the comparison adversely by -0.8 per cent. Five new stores have opened taking the total to 235.
International sales have increased by 30.7 per cent helped by a more efficient distribution network. Underlying growth was driven by good franchisee like for like sales, combined with the continuing store opening programme. There are now 236 international stores exceeding the number of UK stores for the first time.
Mothercare will later today issue an update on the impact of the adoption of International Financial Reporting Standards. The update includes a restated profit and loss account for the year ended 26th March 2005 and a restated balance sheet as at 26th March 2005.
