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

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
January 2017

January 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