Mothercare’s American bidder Destination Maternity rattled by profit warning July 10, 2014 Destination Maternity saw its share price tumble more than eight per cent yesterday, weakening its proposal to take over Mothercare, after it issued a profit warning following weak third quarter sales. The US-based baby retailer, which made two attempts to take over British business Mothercare last week, warned that quarterly takings were “considerably weaker than [...]
Top Mothercare investors back rejection of Destination Maternity bid July 7, 2014 Two major shareholders in Mothercare have thrown their weight behind the baby products chain after it rebuffed a £270m takeover from US firm Destination Maternity last week. Fidelity – Mothercare’s second largest shareholder with a 12 per cent stake – and Allianz, which owns around four per cent have both spoken out against bid, describing [...]
Mothercare shares jump on £266m takeover bid July 2, 2014 US RETAILER Destination Maternity yesterday said that it would seek to hold talks with Mothercare’s board after revealing that it has had two takeover proposals rejected by the mother and baby products chain. Destination Maternity said Mothercare had rebuffed its first two written proposals and had “refused to engage” with the firm on its latest [...]
Mothercare share price surges 12pc after Destination Maternity takeover bid rejection July 2, 2014 Shares in baby goods retailer Mothercare have jumped by 11.8 per cent on the news that it rejected two takeover proposals from Destination Maternity. The US firm's latest offer was worth 300p per share, a 29 per cent premium on the company's closing price of 232.5p on 1 July. Destination Maternity first approached Mothercare in [...]
Shares jump at Mothercare but baby shop’s revenue still poorly May 22, 2014 MOTHERCARE shares jumped almost 17 per cent yesterday after the struggling baby products retailer posted slightly better than expected full-year profits. The company reported underlying profits before tax of £9.5m in the year to 29 March compared with £5.9m the previous year. However, this is still dramatically lower than the £17m that was previously forecast [...]
Mothercare share price jumps as profits beat expectations May 22, 2014 Shares in baby goods retailer Mothercare have surged by 15 per cent after the company reported earnings above expectations. Mothercare's lenders, HSBC and Barclays, also agreed to enlarge the company's debt facility to £100m – an increase of £10m. Profit before tax jumped 61 per cent to £9.5m for the year ended 29 March. 35 [...]
Mothercare shares slide over talks with lenders May 6, 2014 Shares in Mothercare fell more than five per cent this morning after it emerged this weekend that the retailer is in talks with its lenders again over the terms of its banking covenants just seven months after securing a £90m refinancing deal. The retailer, which has Mothercare and Early Learning Centre stores, asked [...]
Mothercare sales slide but promises lean retail operation April 10, 2014 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 [...]
Mothercare takes baby steps with interim hire March 10, 2014 MOTHERCARE yesterday announced it had hired retail veteran Mark Newton-Jones as its interim chief executive as it searches for a long-term boss for the struggling business. Newton-Jones, who takes up the reins next Monday, was chief executive of the internet and home shopping business Shop Direct for nearly a decade, until July last year. His [...]
Mothercare announces interim boss Mark Newton-Jones March 10, 2014 After Simon Calver’s sudden departure last month, Mark Newton-Jones has been named as the interim chief executive (CEO) of babycare specialist Mothercare. Newton-Jones will take over next Monday, minding the group while it looks for a permanent new boss. He won’t, therefore, join the board. Calver left six weeks after the company issues a profit [...]