Last checked at 15 Oct 2009 07:00
MOTHERCARE PLC
SECOND QUARTER TRADING UPDATE
Mothercare plc today issued an update on trading for the second quarter (13 weeks) and the first half (28 weeks) ended 10 October 2009.
Group performance - first half
Total group sales up 8.2%
UK like-for-like sales(1) up 4.1%
Total UK sales up 2.6%
Direct in Home sales up 14.4%
International retail sales(1) up 27.3%
International like-for-like sales(1) up 1.0%
Total 1,060 stores in 51 countries; 389 in UK and 671 overseas
Group performance - second quarter
Total group sales up 7.0%
UK like-for-like sales(1) up 3.0%
Total UK sales up 2.0%
Direct in Home sales up 11.3%
International retail sales(1) up 23.2%
Ben Gordon, Chief Executive said:
"The Mothercare and Early Learning Centre brands have performed well across all channels. International continues to grow strongly with 62 new stores opened in the first half, on track to meet our target of 100 new overseas stores this year. We have opened our fourth store in China, where the brand is gaining increased recognition. We will also launch Mothercare in Australia and the Early Learning Centre in South Africa during the second half.
"Our multi-channel UK business recorded positive like-for-like sales growth for the seventeenth consecutive quarter, helped by the performance of Direct and the success of the Early Learning Centre inserts in larger Mothercare stores. In September we announced the acquisition of the remaining 50% of gurgle.com, the rapidly growing social networking site for parents.
"This strong trading performance has offset the increases in costs arising from the continuing weakness of Sterling, pensions and share based payments. Whilst the economic environment remains uncertain, our first half performance and the strategic initiatives we have taken give us confidence for the rest of the year."
Enquiries to:
Mothercare plc
| Ben Gordon, Chief Executive | 01923 206001 |
| Neil Harrington, Finance Director | 01923 206187 |
Brunswick Group
| Catherine Hicks/Catriona McDermott
| 020 7404 5959 |
Note 1 - "Like-for-like" sales are defined as sales for stores that have been trading continuously from the same selling space for at least a year and include Direct in Home and Direct in Store. Sales from Early Learning Centre inserts in Mothercare stores are included where they are trading in existing Mothercare space. International retail sales are the estimated retail sales of our overseas franchise partners and joint ventures. International like-for-like sales are calculated at constant rates of exchange.
Note 2 - Mothercare plc expects to announce interim results on 18 November 2009.