Mothercare plc, today issued an update on trading for the 13 weeks ended 8 January 2010 ("third quarter").
Group performance : third quarter
Total group sales up 4.6%
UK like-for-like(1) sales up 4.2%
Total UK sales up 2.5%
Direct in Home sales up 19.5%
International retail sales(1) up 9.3% (up 14.0% at constant exchange)
Group performance : year-to-date
Total group sales up 6.6%
UK like-for-like sales up 4.1%
Total UK sales up 2.2%
Direct in Home sales up 16.6%
International retail sales up 20.4% (up 17.3% at constant exchange)
Total 1,111 stores in 52 countries; 394 in UK and 717 overseas
Ben Gordon, Chief Executive said:
"The Mothercare group has performed well across all channels in the third quarter. Our multi-channel UK business enjoyed a particularly good Christmas, recording positive like-for-like sales growth for the 18th consecutive quarter with strong contributions from the Early Learning Centre and Direct. Our new property strategy is on track with seven new Parenting Centres opened so far this year.
"International continues to have a record year, successfully building on retail sales growth of +49.1% in the third quarter last year. In October we announced a new joint venture to accelerate our expansion in India and we have already opened our first two joint venture stores which are trading well. We now have 28 stores in India and plan to increase this to 65 stores by the end of next year. In Russia, we opened our 50th store during December. In total, we have opened 108 stores outside the UK so far this year and are on track to meet our full year target of at least 115 new stores."
Ben Gordon, Chief Executive
Neil Harrington, Finance Director
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.