Q1 financial update shows positive start with 1.9% l-f-l UK sales growth
Mothercare’s first financial quarter update for 2017 shows a positive start to the company’s UK business.
UK like-for-like sales jumped 1.9 per cent during the 15 week period ending 8 July,. Online sales grew by just over 3 per cent, and boss Mark Newton-Jones was buoyed by retailer’s position entering end of season sales.
"We have continued to make progress in the UK during the period,” the Chief Executive added. “We have seen customers respond well to our end of season sale, which we entered with less stock than last year, and are achieving a higher sell-through rate. While online sales recorded a lower growth, in contrast to higher sales growth in-store, we don't believe this represents an underlying permanent shift in customer behaviour. We are about to launch our autumn ranges, but it remains uncertain how consumers will respond to inflation.
“We remain firmly focused on our strategy, both here in the UK and internationally. Our vision remains clear: to be the leading global retailer for parents and young children."