Home / Knowledge / News / Apparel/Garments / Total group sales up 11.4% at Mothercare
Total group sales up 11.4% at Mothercare
01
Apr '11
Mothercare plc issues an update on trading for the fourth quarter (12 weeks) and the full year (52 weeks) ended 26 March 2011.

Fourth quarter

• Worldwide network sales(1) up 10.2%
• Total group sales up 11.4%
• International franchisee retail sales(1) up 10.0% (up 12.0% at constant exchange rates)
• Total UK sales up 4.7%
• UK like-for-like sales(1) down 2.4% (down 1.1% inc. VAT)
• Direct in Home sales up 3.0% (up 4.5% inc. VAT)

Full year

• Worldwide network sales(1) up 8.6%
• Total group sales up 3.6%
• International franchisee retail sales(1) up 16.0%
• Total UK sales flat
• UK like-for-like sales(1) down 4.0% (down 2.7% inc. VAT)
• Direct in Home sales up 10.5% (up 12.1% inc. VAT)

Ben Gordon, Chief Executive said:
"International has delivered another strong year with franchisee retail sales up 12% at constant rates of exchange in the fourth quarter and up 16% in the full year with 166 new overseas stores opened. The Asia-Pacific region, which includes our joint ventures in India, China and Australia, is growing particularly rapidly with sales up 47% in the year. We now have 1,267 stores in 55 countries with 373 in the UK and 894 overseas including 62 in India.

"In the UK total sales are up 4.7% in the fourth quarter due to increased sales from the new Wholesale business and continuing benefits from our property strategy. The UK trading environment however remains difficult with weaker consumer demand and lower footfall. We have cleared Autumn/Winter stocks in an increasingly competitive environment and, as a result, we expect UK gross margin for the full year to be down 2.5 percent which is 0.5 percent lower than previous guidance. As planned, during the year we closed 26 high street stores and opened 12 parenting centres.

"Looking to the new financial year we expect International to continue its rapid growth with at least 150 new overseas stores opening. In the UK we expect the consumer environment will be challenging and accordingly, we are planning cautiously.

“We will benefit from continued progress in Wholesale however we expect the profitability of the UK retail operations to remain under significant pressure in 2011/12 with weak demand continuing, although input cost pressures on gross margin will be offset by cost savings. Work is now underway to identify further opportunities to extend our UK property strategy and we will be giving an update on this and on our other key initiatives at our Preliminary Results in May."

Mothercare plc

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

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

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