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Mothercare thriving despite tough times
16.07.09
The adage that in a recession the kids still get clothed while mum and dad have to make do with last year's gear is holding true, according to Mothercare.
The children's clothing chain, which also owns the Early Learning Centre franchise selling kids' toys, today said its like-for-like sales in the UK are up 5.1% year on year.
That figure for the 15 weeks to last Friday not only thrashes much of the rest of the British High Street but is an improvement on the 3.7% year-on-year growth that Mothercare reported at the end of the spring.
“This has been another strong sales performance,” chairman Ian Peacock told shareholders at the group's annual meeting.
The company said there had been a particularly strong performance in the Mothercare stores which include an Early Learning Centre “insert”.
Sales via the internet are up by 17.4%, while international sales, led by Russia, the Middle East and India, are up 32%.
Thirty new stores in the past three months means Mothercare now has 639 overseas outlets accounting for nearly a third of group profits.
