Deathwatch: Mothercare announce huge losses but they say it'll all be okay
If there’s one name that looks destined to depart from the high street sooner than any other, it’s Mothercare. That’s what we’ve just decided after hearing the company announce a new loss figure of £102.9m over the 53 weeks up to March 31st.
Or will it? The losses look horrendous but they include a one-off exceptional charge of £104.4m, which is supposedly part of the company’s restructuring plan. Underlying profit has been announced as £1.6m which came as sales fell by 5%.
Mothercare say they’re still doing great abroad - then again the Germans are really into the music of David Hasselhoff but that doesn’t make it right. We’ll be keeping a close on eye on Mothercare, or what’s left of it over the coming months. Otherwise it'd just be stories about penis leggings and no one wants that do they?
TOPICS: High Street News