Mothercare sees foreign sales beat UK

first_img MOTHERCARE posted a 22 per cent rise in first-half profit yesterday, with a strong performance overseas offsetting weak UK sales. The baby and mother goods retailer, with more than 1,200 stores in 54 countries, said it made an underlying pre-tax profit of £12.2m in the 28 weeks to 9 October. That compares with £10m in the same period last year.Overall sales rose 7.5 per cent to £590.2m, with overseas retail sales overtaking British sales for the first time. International sales were up 17.3 per cent, reflecting 112 new overseas stores, but UK sales fell 0.4 per cent. Mothercare opened 112 international stores in the period, including opening its 50th store in India.It has also raised its store opening target for the year from 100 to 150, boosting retail space by 20 per cent.Sales in the company’s home shopping business, were 11.6 per cent higher at £64.7m.Chief executive Ben Gordon said: “The UK consumer environment remains uncertain and we continue to plan cautiously.”Mothercare is paying an interim dividend of 6.4p, up 16.4 per cent. Shares in Mothercare have lost eight per cent of their value over the last six months, hit by its warning in July that profit margins would suffer from price cuts and promotions as it seeks to attract cash-strapped shoppers. Gordon added: “We are however benefiting significantly from the strategic initiatives we have taken and from the rapid growth of international.” The chain has 1,217 stores in 54 countries, and is planning to expand its parenting centres in out-of-town sites where all the ranges are included. whatsapp Mothercare sees foreign sales beat UK KCS-content whatsapp Share center_img Wednesday 17 November 2010 7:52 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionWolf & ShepherdNFL Star Rob Gronkowski’s Favorite ShoesWolf & ShepherdBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeHero Wars This game will keep you up all night! Hero Wars Zen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramBrake For It40 New Features In The 2021 Ford BroncoBrake For ItTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more