Home / Knowledge / News / Apparel/Garments / Mothercare Q4'FY14 sales slip 2.5%
Mothercare Q4'FY14 sales slip 2.5%
10
Apr '14
Mothercare plc, the leading international mother and baby retailer, issues the trading update, which covers the 12 and 52 week periods to 29 March 2014.
 
Overview for Q4 - 12 weeks to 29 March 2014
-Worldwide network sales were down 2.5% with Group reported sales up 0.6%
-Mothercare plc now operates from 4.4 million sq.ft., up 5.8% year-on-year, and has 1,441 stores across 60 markets worldwide
-International has seen an improvement in constant currency sales to 9.8% but, as highlighted in January, the increasing level of currency devaluation has had an adverse impact on reported retail sales
-In the UK both like-for-like and Direct in Home sales have improved since Q3
-Full year FY2014 underlying profit is expected to be in line with current market forecasts
-In the UK, we expect the environment to remain competitive and promotional. In International, we expect the effects of currency devaluation to continue into the new financial year
-Mark Newton-Jones was appointed Interim Chief Executive during the quarter
 
Alan Parker, Chairman of Mothercare plc, said, "After a difficult Q3, it is encouraging to note that we have seen some improvement in trading for both International and the UK.
 
"International has continued to increase space and constant currency sales growth is stronger than the previous quarter, with positive like-for-likes. However the pace of currency devaluation, as highlighted in January, has increased with all four regions impacted. This adverse currency impact is expected to persist into next year. Nevertheless, our franchise partners continue to see opportunity and their business plans confirm double-digit space growth.
 
"In the UK we have continued to close loss-making stores and focus on a lean retail operation. We are increasingly moving to a multi-channel business with 29% of the sales mix, up from 25% in the previous year, attributable to our Direct business. UK like-for-like sales and margins are in line with expectations for the quarter, despite continued pricing-pressure in Home and Travel.
 
"We remain profitable at Group level and are focused on eliminating UK losses whilst also continuing to exploit our growth potential across our International markets."
 

Mothercare plc

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search