Mothercare records drop in sales as it ‘continues refinancing’
Mothercare has posted a decline in revenue and international sales as it continues efforts to “refinance the group” and ensure “adequate and appropriate financing for the future”.
The retailer recorded £29m in revenue in the 26 weeks to September 23, down from £38.5m in the same period last year.
International retail sales by franchise partners decreased 15% year on year from £162.1m to £137.2m. The group said this reflects “difficult trading conditions in the Middle East”, which is down 20% on last year.
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