Mothercare chief executive, Mark Newton-Jones, said the group “remains singularly focussed on transforming Mothercare to be the leading global retailer for parents and young children” despite issuing a profit warning in a Christmas trading update.
The retailer said the softening in the UK market – lower footfall and website traffic – resulted in lower spend in both stores and online, delivering a 7.2% fall in UK like-for-like sales in the 12 weeks to 30th December.
As a result, Mothercare now expects adjusted group profit for the year is likely to be in the range of £1m to £5m.
Mothercare has been embarking on a store closure programme after announcing plans in May last year to close as many as 70 stores from its then 152-store portfolio.
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