'Strong' sales at Mothercare

16-01-2008

'Strong' sales at Mothercare
Mothercare has released Christmas figures in line with forecasts with like-for-like sales up 3.4 per cent in the third quarter in the UK.

The pregnancy and parenting retailer said the growth reflects its acquisition of Early Learning Centre (ELC), which makes educational toys, and a boost in online shopping.

The growth in online sales has been experienced by many retailers during the quarter.

The update also reported that international sales were up 7.4 per cent on a comparable basis, but is expected to "unwind" in Q4.

"This is a strong performance for the newly enlarged Mothercare group over the Christmas trading period. The group is benefiting from our strategy of positioning Mothercare as the leading specialist brand for parents around the world," said Ben Gordon, chief executive of the maternity goods store.

Mr Gordon went on to say that, despite caution about the UK consumer environment, it expected profits for the full year "to be near the top end of analysts' expectations".

The price for a share in Mothercare, which runs over 900 shops in the UK and abroad, has fallen slightly by 0.22 per cent to 334.25p in trading on the stock exchange this morning.

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