MOTHERCARE, THE British children’s clothing retailer with 1,352 stores worldwide, reported its highest sales in four weeks after reporting growth in holiday and international sales.
British sales at stores open at least a year rose 5 per cent in December, helped by promotions, the company said in a statement.
Total retail sales were up almost 40 per cent in Asia Pacific in the third quarter and the brand saw strong growth in eastern Europe and the Middle East, executive chairman Alan Parker said.
The holiday sales gain is “the strongest number we’ve seen for quite some time,” Mr Parker said yesterday. “Our international business is going from strength to strength, and the UK is already benefiting from management action despite the challenging trading environment.”
Mothercare opened its 1,000th store outside Britain in the third quarter as it introduced its first outlets in Chile, Colombia, Iraq and Morocco. The retailer plans to close 80 stores in Britain this year to help manage costs, Parker said.
The company’s shares rose as much as 3.5 per cent in London trading to reach 170.25 pence. – (Bloomberg)
