Mothercare PLC
8 October 2001
8 October 2001
Mothercare plc
Trading update
Mothercare today announces a trading update for the period of 26 weeks to 28
September 2001. Sales increased by 9.6%, and like-for-like sales growth for
the period was 7.6%. Margins have improved by 2.1 percentage points on last
year.
As set out previously, the key priorities for phase two of the recovery
programme have been the relaunch of Mothercare's clothing range and the move to
a new warehouse facility at Daventry, Northamptonshire. Launched in early
August, the performance of the new Autumn/Winter clothing ranges is very
encouraging.
The new warehouse, operated by Tibbett & Britten, opened as scheduled, on 18
August and all new IT systems have worked successfully. However, productivity
levels within the warehouse have been well below those planned, resulting in
product availability issues. Action is being taken to resolve these issues and
the flow of stock into stores is now starting to improve.
A further update will be given when Mothercare announces its interim results
for the 28 weeks to 13 October on 22 November 2001.
Enquiries: Caroline Whitelegge Mothercare 01923 206 233
Susan Gilchrist Brunswick 0207 404 5959
End
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