Mothercare heralds ‘sounder footing' despite swelling losses
Mothercare has insisted that it is on firmer financial footing despite increased losses.
Pre-tax losses were up 19.9% to £87.3m while global sales fell 7.9% to £1.07bn.
UK sales were down 11.8% to £336.6m. Online sales dropped 8% to £140.1m. Like-for-likes crashed 8.9%.
The business grew in Russia, China and Indonesia but suffered in the Middle East.
Mothercare has suffered a turbulent year which included completing a CVA and restructuring the business in a tough market.
The business has now completed its CVA, which saw it nearly halve its store estate, cutting stores from 134 to 79 and reducing space by 30%.
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