BABY products retailer Mothercare, facing intensifying competition in Britain, said its overseas sales rose 11 per cent in the first quarter, contrasting with a more than 10 per cent fall in total sales in its home market.
The company, which also sells maternity wear, said comparable sales in the UK fell 6.7 per cent in the 15 weeks ended 14 July. Total UK sales fell 10.2 per cent.
Chief executive Simon Calver said the fall in domestic sales was partly down to the firm closing 16 of its UK shops during the quarter. Shares rose 4.6 per cent on relief that the drop was not any worse. Shareholders passed all resolutions at yesterday’s AGM.
City A.M. Reporter