Tuesday, 23 May 2017

Mothercare To Close Up To 1/3 Of Its Stores

Mothercare

The baby care chain said it would slash its 152-strong UK store estate further to between 80 and 100 shops as it moves to the "second phase" of an overhaul.

Mothercare has already been axing loss-making shops and refurbishing its estate to boost flagging UK sales, having shut 21 stores in the year to March 25.

Chief executive Mark Newton-Jones said he wants stores to be focused on key locations nationwide, while acting as specialist advice and service points to support online sales.

He said: "We are clear in the role our stores will play for the future, by offering specialist advice and service and first class product presentation.

"Store numbers will reduce over time as we focus on a regional presence in key conurbations across the UK."

His turnaround efforts have been helping return the UK arm to health, with the group seeing its first underlying profit for six years in the final half of its financial year - with a surplus of £4.4 million.

The UK remained loss-making overall in the year, with underlying losses of £4.4 million after a "difficult" first half, but this was narrowed from losses of £6.4 million the previous year.


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