Mothercare woes deepen after Christmas sales plunge
by Angela Monaghan from Economics | The Guardian on (#46KJJ)
Struggling chain blames 'worrying' fall in sales on tough consumer market and move to offer fewer discounts
Mothercare's problems continued over the key festive trading period as the retailer blamed a sharp fall in sales on a tough consumer backdrop and its decision to offer fewer discounts than a year earlier.
The struggling baby and maternity chain said sales at UK stores open for more than a year fell by 11.4% in the 13 weeks to 5 January, while online sales tumbled by 16.3%.
Maplin, Toys R Us and Jacques Vert have all collapsed in recent months, but several retailers and restaurant groups are facing financial problems and are trying to close stores or negotiate rent cuts.
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