Foreign hopes lift spirits at Mothercare
Thursday 22 November 2012
The promise of overseas riches cheered up investors in Mothercare yesterday after the company posted yet another loss.
The struggling baby goods retailer, which stocks Jools Oliver's Little Birds clothing range, showed signs of improvement as losses narrowed to £600,000 during the six months ending 13 October, compared with £4.4m a year earlier.
Shares in the company rose 11p to 303p after it said it had cut prices, improved its delivery service and closed 31 stores.
UK like-for-like sales fell 3.4 per cent, compared to a 7 per cent fall a year earlier. However, across the rest of the world, sales rose 4.4 per cent.
The company plans to open 150 stores in China, India, the Middle East and Latin America.
Simon Calver, Mothercare's chief executive, said: "My first six months as CEO have been both challenging and exciting. Our results show early signs of progress despite the challenging trading conditions in the UK and the eurozone.
"Ahead of our peak trading period over Christmas, we are working hard to serve our customers better and focusing on the delivery of our plan."
- 2 Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
- 3 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 4 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...