Mothercare sales slide but promises lean retail operation

 
Guy Bentley
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Baby goods retailer Mothercare has suffered a fall in like-for-like UK sales of 0.3 per cent for the 12-weeks to 29 March, according to the company's latest trading statement.

Total UK sales for the troubled retailer also fell by four per cent for the same period. Mothercare also saw worldwide network sales decline by 2.5 per cent.

However, the results were an improvement on the the third quarter results and full year profits for 2014 are expected to be in line with expectations.

Alan Parker, chairman of Mothercare, said the retailer had continued to close loss-making stores and would "focus on a lean retail operation."

In February, Simon Calver resigned as Mothercare chief executive six weeks after the company received a significant profits warning. Calver had been in the role for two years after serving as head of online movie rental service Lovefilm.

Mothercare has attempted to cut costs, revamp underperforming stores and grow its online platform but has struggled to make a difference in the face of stiff competition from supermarkets and online rivals such as Morrisons’ Kiddicare business.