In the UK, however, its turnaround was bearing fruit, with like-for-like sales up 2.1%
Chief executive Mark Newton-Jones said the company — which recently launched the My Babiie range of pushchairs by The Only Way is Essex’s Billie Faiers — would wait for the troubles abroad to ease.
“We’re not retrenching or battening down the hatches here, it’s the opposite. There’s opportunity to expand. We recognise the market is soft but we know at some point it will come back.”
Peel Hunt said it was a “cyclical setback” and that Mothercare was “on track to deliver a transactional online platform across the international business in 12 to 18 months’ time, which we believe will be a major catalyst for the business”.
