Mothercare to close more stores with job losses

Struggling retailer Mothercare has announced plans to close more stores over the next three years- with more job losses.Mothercare to close more stores with job lossesIn May last year, the company said it planned to reduce its total UK stores from 373 to 266 by March 2013.

It now says that that it will reduce its store base to 200 by March 2015.

The news came as the babywear retailer revealed a 6.2% drop in like-for-like sales in the UK in the year to the end of March. For the fourth quarter, UK like-for-like sales were down 8.2%.

The company said it had closed 62 stores in the UK in the past year and would close another 111 stores by March 2015.

The group, which also runs the Early Learning Centre, said the 200 profitable outlets it was focusing on were made up of 95 out-of-town stores and 105 High Street stores.

Mothercare launched a structural and operational review of its business in November, and said the review and resulting strategy was nearing completion.

The new strategy for the next three years will be presented by new chief executive Simon Calver with the company’s preliminary results on 24 May.

The store closures leave hundreds of full time jobs and part time jobs at risk.

The retailer’s drive to cut costs also includes a 16% reduction in head office payroll costs, which equates to about 90 roles.

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April 18, 2012 · Home Based Jobs · Comments Closed
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