Mothercare narrows losses, UK picks up -UPDATE

Broker comment added

Mother and baby products retailer Mothercare narrowed first half losses, despite challenging trading conditions, as its UK performance improved and international sales continued to grow.

Like-for-like (LFL) sales fell 3.4% in the UK in the 28 weeks to October 13th 2012 compared to a decline of 7% in the equivalent period a year ago. LFL international sales grew 4.4%, slower than the 5.4% recorded in the same period last year.

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