Mothercare has reported “improving trends” in its core UK market as it continues to attempt to transform the business.
The company reported a 20% leap in losses for its last financial year. They had losses of £87.3 m, with total group revenue 11.5% lower at just under £514m.
The figures are likely due to its UK store closure programme, which the company reported completing ahead of schedule. This was a part of the company rescue plan. Store numbers fell fro, 134 to 79 and hundreds of jobs were cut.
Shares are also up 30% in the year to date and were up a further 9% when trading began today.
The deal also resulted in the company bringing back its chief executive Mark Newton-Jones after sacking him just weeks earlier.
The firm has struggled for some time to compete with online retailers. The move also reflects the downward trend in customer spending on the high street.
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HeadlineMothercare says financial rescue plan “is almost complete” despite further losses
Short HeadlineThe company had a 20% leap in losses last year
StandfirstThe company had a 20% leap in losses last year
Mothercare has reported “improving trends” in its core UK market as it continues to attempt to transform the business.
The company reported a 20% leap in losses for its last financial year. They had losses of £87.3 m, with total group revenue 11.5% lower at just under £514m.
The figures are likely due to its UK store closure programme, which the company reported completing ahead of schedule. This was a part of the company rescue plan. Store numbers fell fro, 134 to 79 and hundreds of jobs were cut.
Shares are also up 30% in the year to date and were up a further 9% when trading began today.
The deal also resulted in the company bringing back its chief executive Mark Newton-Jones after sacking him just weeks earlier.
The firm has struggled for some time to compete with online retailers. The move also reflects the downward trend in customer spending on the high street.
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