Mothercare on the right path

0
Have your say

Retail chain Mothercare said its half-year profit more than doubled offering signs that its turnaround is beginning to gain traction.

The babycare group, which also owns the Early Learning Centre, said its underlying pre-tax profit jumped 112 per cent to £7m in the 29 weeks to October 10 compared to a year ago, as it lifted sales.

It said UK like-for-like sales almost doubled to 3.8 per cent, as it refurbished stores and introduced 48 new brands in the period compared to a year ago.

As a result it said it cut underlying losses at its key UK business by 54.8 per cent to £6.1m.

Mothercare is in the middle of a £100m turnaround plan which has seen it cut UK stores.