Mothercare, a British retailer which specializes in products for expectant mothers and in general merchandise for children, has announced its financial results for fourth quarter ended March 25, 2017.
During the period under review, international retail sales were down 1.7 per cent in constant currency and up 15.4 per cent in actual currency, reflecting the ongoing currency tailwinds.
Many International markets are now in growth, while the Middle East remains challenging. During the year Mothercare opened 144 stores and closed 116 during the year, ending the quarter with 1,338 stores.
“Following a solid final quarter, our overall Group performance remains broadly in line with market expectations for the year,” said Mark Newton-Jones, Chief Executive Officer of Mothercare, adding, “In our International business, we have seen strong sales in China, Indonesia and Russia supported by currency tailwinds, whilst the continuing economic conditions in the Middle East remain challenging. We continue to export our learnings from the UK and as a result we have launched ten new websites this year, bringing our total to 21 countries now trading online. We still see many opportunities in existing and new markets around the world that are open to us.”
The retailer is firmly focused on its strategy to build businesses both here in the UK and internationally and its vision remains clear: ‘to be the leading global retailer for parents and young children’.
