- Like-for-like sales increase 18% in six weeks to January 3
- December 27 best trading day ever in stores
- Return to profit in last full financial year
Maternity retailer Mamas & Papas has revealed a strong Christmas performance as its management presses on with a turnaround of the business.
Mamas & Papas’ like-for-likes in the six weeks to January 3 jumped 18% to £12m, with December 27 its best trading day yet in stores.
Executive chairman Derek Lovelock said: “Our strong performance this Christmas underlines the strength of the turnaround at Mamas & Papas.”
Last year the retailer secured a Company Voluntary Arrangement (CVA) saving it from administration.
Mamas & Papas said today it returned to profit in its last financial year, in the year to the end of March 2015.
Operating profits before one-off costs were £91,000 compared with a £5.7m loss the previous year. Sales were flat at £137.6m.
UK sales rose to £107.8m from £104.5m the prior year, of which £88.6m were retail sales.
“The first phase of the strategic plan, which included a fundamental restructure of the business, was completed at pace,” added Lovelock.
“Like the rest of the business, the UK retail estate is now trading well, outperforming business plan expectations and delivering robust like-for-like sales growth.
“We expect growth in both revenue and profit to be maintained.”