Trading Statements / Contract Wins / Acquisitions:
Mothercare PLC - Trading Statement
Ian
Peacock, Chairman said:
"Our
strategy of focusing on the global expansion of the Mothercare and Early
Learning Centre brands, whilst restructuring the UK business through our property
strategy, continues to deliver results.
"We
have once again seen strong growth in International. In the UK the environment remained
challenging, and we were trading against strong first quarter comparatives of
+5.1% last year. Direct delivered double-digit sales growth, reinforced by
the recent launch of a new website for the Early Learning Centre. Our new
Wholesale channel will be boosted by the partnership with Boots announced in
February. We have also today announced the acquisition of the Blooming
Marvellous brand and trademark.
"International
has seen particularly strong growth in Eastern Europe, the Middle East, Asia
and Australasia. At the end of the first
quarter we had opened 56 new stores overseas, increasing overseas retail
space by 6.2%.
"In
the UK
we continue to plan cautiously for the remainder of this year. In this
context, we expect to invest further margin in our customer offer which will
be offset, in part, by cost savings and our property restructure. Despite the
uncertain UK
consumer environment we remain well placed to deliver on our global
strategy."
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