High street baby and child retailer Mothercare has said it will reduce its store portfolio as 41% of its sales are now online.
In its latest results, it revealed that pre-tax profits dropped 26.8% to £7.1m in the 52 weeks to March 25 and pre-tax profits across the group were broadly flat at £19.7m despite a 2.2% drop in group sales to £667.4m.
It has been refurbishing its estate, and now 70% of its shops have been refurbished and operate in its new club format.
Chief executive Mark Newton-Jones said: “Our customers shop across both digital and store channels and thus we will invest in both. Digital revenue is on a trajectory to be over half of our turnover. We are clear in the role our stores will play for the future, by offering specialist advice and service. and first class product presentation. Store numbers will reduce over time as we focus on a regional presence in key conurbations across the UK.”
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