Mothercare share price shoots up with turnaround on track despite currency headwinds April 16, 2015 The figures Mothercare improved sales at home and abroad in the fourth quarter, but currency headwinds are still blowing. In the UK sales inched up 1.5 per cent on the same period last year, a turnaround from consecutive declines in previous quarters and like-for-like sales were up 5.1 per cent after a 4.5 per cent [...]
Mothercare CEO Mark Newton-Jones on not going into sale pre-Christmas January 15, 2015 The Christmas trading season was something of quick-draw for retailers, after firing off a raft of promotions to boost sales that culminated in Black Friday – the UK’s biggest ever shopping day. Yet those that do not get caught in the crossfire of promotional activity can have the upper hand, according to Mothercare CEO Mark [...]
Turnaround for Mothercare? Higher sales in the third quarter indicate a change in fortunes January 15, 2015 The figures Mothercare's like-for-like sales in the UK rose 1.1 per cent in the third quarter, indicating the babycare retailer's troubled spell may be coming to an end. Total UK sales fell 1.9 per cent in the 13 weeks to 9 January, but when you factor in the closure of 4.2 per cent of the [...]
Mothercare poaches Rexam’s finance chief Richard Smothers December 9, 2014 MOTHERCARE yesterday announced it had secured a new chief financial officer after poaching Richard Smothers from the same role at packaging group Rexam. The baby goods retailer said that Smothers would join the firm on 23 March after stepping down at Rexam. He will replace Matt Smith, who is leaving next month to become chief [...]
Mothercare share price rises as it pacifies investors with first-half profit November 20, 2014 It has been a busy year for Mothercare. The baby clothing and equipment retailer not only launched a £100m rights issue but also rebuffed a takeover attempt, which caused shares to drop 11 per cent, plus it appointed a new chief executive. But this morning it reported international like-for-like sales up 4.9 per cent in the [...]
Banks place leftover Mothercare shares to take haul to £100m October 27, 2014 RETAILER Mothercare raised a further slug of cash to boost its digital expansion yesterday after banks placed the leftover shares from its rights issue. The babycare specialist launched a fundraising last month to help it add a stronger online presence to its bricks-and-mortar offering. Banks underwriting the offering – Numis Securities, JP Morgan Cazenove and [...]
Mothercare plans turnaround with £100m fundraise to stem UK losses October 9, 2014 Mothercare shareholders yesterday approved plans for a £100m rights issue to help fund another raft of store closures and revamps, as it steps up efforts to stem losses at its UK business. Despite having a profitable overseas business, Mothercare has been struggling with fierce competition in its home market from supermarkets and online players such [...]
Mothercare calls for £100m cash September 23, 2014 BABY goods retailer Mothercare is raising £100m from shareholders to pay for store closures, revamp its business and pay off debt. Shares fell 1.7 per cent to 244p yesterday on the news. The business will issue £100m worth of new ordinary shares at 125p, a 34.2 per cent discount on Monday’s closing price. Around £40m [...]
Mothercare share price plunges on news of £100m rights issue September 23, 2014 Mothercare's share price has plunged after revealing plans to launch a £100m rights issue as it looks to fund a wide-ranging turnaround strategy. The business, which saw its share price fall by as much as 12 per cent this morning, will issue £100m worth of new ordinary shares at 125p, underwritten by Numis Securities, [...]
Mothercare share price tumbles 11pc as £266m Destination Maternity takeover bid ruled out July 28, 2014 Mothercare’s share price has taken a tumble this morning after a takeover bid by US chain Destination Maternity was ruled out. Shares opened 11 per cent down after the struggling babywear retailer said it was now “fully focused on the company's plan to turnaround the UK business and to continue its strong international growth. The [...]