MotherCare news and archive

Mothercare continues to struggle, UK same-store sales drop 11.4 percent

Mothercare Plc, for the 13 week period to January 5, 2019, said UK like-for-like sales declined 11.4 percent, reflecting a combination of the difficult consumer backdrop and the aggressive discounting activity undertaken in the prior year that inflated sales in that period. The company added that online sales in the UK declined 16.3 percent...

Management

Mothercare first half losses widen to 6.2 million pounds

Mothercare Plc in its results statement for the first half year ending October 6, 2018, said that adjusted loss before taxation reached 6.2 million pounds (7.9 million dollars) compared to 2.6 million pounds (3.3 million dollars) last year. Group adjusted loss before taxation and foreign currency revaluations was 9.1 million pounds (11.6 million...

Report

Mothercare restructuring leads to 200 job cuts

Struggling mother and baby products retailer Mothercare Plc has decided to terminate around 200 jobs as part of its restructuring process, reports Reuters. Quoting a statement from the company spokesperson, the report added that these reductions will affect the company’s head office, while reorganisation effort will also lead to creation of 50...

Report

Mothercare to close 60 stores, puts Children's World into administration

Mothercare Plc has announced that it is planning a fully underwritten equity issue to raise 32.5 million pounds (43.2 million dollars) from our existing shareholders at 19 pence per new ordinary share. The company also announced that since the CVA proposal in respect of Children's World Limited did not receive the required support from...

Report

Two Mothercare non-executive directors to leave

Mothercare plc has announced that Richard Rivers and Lee Ginsberg will step down as non-executive directors with effect from the conclusion of the company’s annual general meeting due to be held on July 19, 2018. Ginsberg will be succeeded by Nick Wharton, Non-Executive Director, as Chair of the audit and risk committee. Commenting on the...

Management|ANALYSIS

Mothercare and Moss Bross drop from FTSE 100

The quarterly reshuffle of the UK’s benchmark index comprehended of the 100 largest companies by market capitalisation hasn’t be precisely soothing for the ailing apparel retail sector. Mothercare and Moss Bross have dropped from the FTSE 100 while Marks & Spencer has barely survived this cut. As announced by the London Stock Exchange on May 31...

People

Mothercare to bring back Mark Newton-Jones as CEO

Putting media speculations to rest, Mothercare has confirmed measures to refinance its business and restructuring of its UK store portfolio. The company said that the comprehensive debt and equity refinancing will provide funding of up to 113.5 million pounds (153 million dollars). The UK restructuring measure will see Mothercare exit from 50...

Report

Clive Whiley takes over as Mothercare’s executive chairman

Mothercare’s non-executive chairman Alan Parker has retired from his position. The company said, Clive Whiley has now been appointed as Interim Executive Chairman, with immediate effect. Commenting on Whiley’s appointment, David Wood, Mothercare's CEO, said in a statement: "Mothercare is currently facing a number of challenges, not least a...

Report

Mothercare UK like-for-like sales drop 2.8 percent

For the 12 week period to March 24, 2018, Mothercare Plc reported 2.8 percent fall in UK like-for-like sales impacted by reduced store consumer footfall. Online sales increased 2.1 percent, with website sales growth of 7.2 percent. The company said, Mothercare continued progress with store rationalisation programme, leading to total UK sales 5.6...

Report|UPDATE

Mothercare mulls over closing down loss-making stores

London - Struggling maternity and baby specialist Mothercare is said to be considering closing a number of its loss-making stores and seeking rent cuts in others as it continues to face difficult trading conditions. The high street retailer, which named industry veteran David Wood as its new CEO last week, is reportedly investigating a potential...

Report

Is Sainsbury’s eyeing Mothercare?

British supermarket chain Sainsbury’s is reported to be interested in taking over fellow UK retailer Mothercare. Conversations might have stalled short of making an offer. Saisnbury’s is understood to have studied making a takeover offer to baby and maternity apparel retailer Mothercare, reports the ‘Mail Online’. According to people familiar...

Report

Mothercare CEO exit's role as David Wood takes charge

London - Mark Newton-Jones, the CEO of maternity and babywear retailer Mothercare has stepped from his role at the company after four years, as the British company named industry veteran David Wood its new CEO. Effective immediately, Wood's appointment at Mothercare sees the retailer bring in fresh leadership to help complete its transformation...