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


Interviews View All

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

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

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

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

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search