Mothercare, the mother, baby and toddler products retailer, said UK like-for-like (LFL) sales have returned to underlying growth while international progress slowed a touch.
UK LFL sales rose 0.3% for the 13 weeks to October 13th compared to a 3.4% decline in the first quarter. Total UK sales fell 8.3% following the closure of 31 stores nationwide.
Direct in Home returned to growth, up 11% for the second quarter after 0.9% growth during the first quarter.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group, which has been struggling against a weak retail environment and online competition, said second quarter international retail sales rose 10.8%, down slightly from 11% in the first quarter after adverse currency movements.
"Asia Pacific and the Middle East & Africa continue to perform strongly and at the top end of our expectations while Europe remains weaker, particularly across our Eurozone markets," Mothercare said in a statement.
Chief Executive Simon Calver said the group's strategy outlined in May this year is starting to have a beneficial impact on like-for-like sales, which along with its online business have returned to growth.
"International continues to grow despite difficult trading conditions in the Eurozone and adverse currency movements. We recognise that our most important quarter, which includes Christmas, is still ahead of us. We are confident about delivering against the targets we set out in our three-year plan," he said.
CJ
-
Adidas, Nike or Jordans - could collectable trainers make you rich?The right pair of trainers can fetch six figures. Here's how you can start collecting vintage Adidas, Nike or Jordans now
-
Early bird ISA investors flock to global funds, India and the USThere’s been an increase in investors maxing out their ISA at the start of the new tax year. But where are they putting their cash and why does it make sense to be an early bird investor?
