14th Jan 2016 08:33
LONDON (Alliance News) - Mothercare PLC on Thursday reported a fall in sales in the third quarter of its financial year, as economic and currency headwinds hit international sales, offsetting improvements in the UK and strong online sales growth.
The retailer for mothers and babies said total group sales in the 13 weeks to January 9 fell 5.4% year-on-year, as UK sales decreased 0.1%, international sales declined 9.5% and worldwide sales fell 5.5%.
Worldwide sales are total international sales plus total UK sales, while total group sales also include royalty payments from international partners and the cost of goods dispatched to franchise partners.
On a more positive note, online sales grew 12% and UK like-for-likes increased 4.2%.
Mothercare said that despite growth in online and UK like-for-like sales, total UK sales fell due to a year-on-year reduction in store space, while international sales were hit by economic and currency headwinds.
"Overall group performance remains in line with market expectations, with our UK
performance further improving and international continuing to be challenging," Chief Executive Mark Newton-Jones said in a statement.
Shares in Mothercare were trading down 0.9% at 222.00 pence early on Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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