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

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Suresh Patel
Sidwin Fabric

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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 ...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search