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Mothercare 'continuing with commercial property restructuring'
Retailer Mothercare has seen positive results from its commercial property restructuring operations despite experiencing a dip in UK sales, the firm's chairman has stated.
In a trading update, the firm revealed like-for-like sales in its UK stores were down 4.1% in the 15 weeks to July 10th, with overall sales falling 2.6%.
However, chairman Ian Peacock said the company's strategy of "focusing on the global expansion of the Mothercare and Early Learning Centre brands while restructuring the UK business through our property strategy" is continuing to be beneficial.
He added the restructuring of its business property portfolio - along with cost savings - will help free up funds to invest in improving its offerings for customers, adding that company is continuing to "plan cautiously" for the rest of 2010.
Mothercare also owns the Early Learning Centre brand and sells goods through both its commercial property network, a mail order service and the internet.
Posted by Sarah Smith
In a trading update, the firm revealed like-for-like sales in its UK stores were down 4.1% in the 15 weeks to July 10th, with overall sales falling 2.6%.
However, chairman Ian Peacock said the company's strategy of "focusing on the global expansion of the Mothercare and Early Learning Centre brands while restructuring the UK business through our property strategy" is continuing to be beneficial.
He added the restructuring of its business property portfolio - along with cost savings - will help free up funds to invest in improving its offerings for customers, adding that company is continuing to "plan cautiously" for the rest of 2010.
Mothercare also owns the Early Learning Centre brand and sells goods through both its commercial property network, a mail order service and the internet.
Posted by Sarah Smith
Thu, 15th Jul 2010