UK business shows 'resilience' in tough market
Mothercare reported a 'resilient' trading performance this morning and announced its entry into the Indian market.
The retailer reported a 1 per cent fall in UK like-for-like sales for the 28 weeks to October 8. However, total sales, including international, were up by 3 per cent.
The group has signed a franchise agreement to open 40 stores in India over the next five years.
Chief executive Ben Gordon (pictured) said: 'The work we have done to strengthen the business is evident in our performance, with our UK business showing resilience in what remains a difficult trading environment.'
Investec retail analyst Matthew McEachran noted: 'Mothercare's Q2 update is better than some people had feared. A resilient Q2 performance.'
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