Mothercare, a British retailer of clothing and homeware products, has reported its financial results for fiscal 2020. Worldwide sales for the year ended on March 28, 2020 dropped 10.3 per cent to £542.1 million compared to the sales of £604.3 million in same period last year. Total group revenue fell 17.6 per cent to £164.7 million (FY19: £199.8 million).
Mothercare, a British retailer of clothing and homeware products, has reported its financial results for fiscal 2020. Worldwide sales for the year ended on March 28, 2020 dropped 10.3 per cent to £542.1 million compared to the sales of £604.3 million in same period last year. Total group revenue fell 17.6 per cent to £164.7 million (FY19: £199.8 million).#
“The impact of Covid-19 has had direct consequences for the group and our franchise and manufacturing partners, despite the invaluable supply-side experience we gained at the time of the administration of MUK last November, which enabled us to manage and mitigate the overall impact on both our and their businesses,” Clive Whiley, chairman at Mothercare, said in a report.
Mothercare, a British retailer of clothing and homeware products, has reported its financial results for fiscal 2020. Worldwide sales for the year ended on March 28, 2020 dropped 10.3 per cent to £542.1 million compared to the sales of £604.3 million in same period last year. Total group revenue fell 17.6 per cent to £164.7 million (FY19: £199.8 million).#
Total profit for the year was £14.4 million compared to the loss of £97.0 million, which included a gain on the loss of control of the group’s main trading subsidiary Mothercare UK Limited, and a shared service entity, Mothercare Business Services Limited of £46.2 million. Net debt for FY20 was £13.7 million (£6.9 million).
Mothercare, a British retailer of clothing and homeware products, has reported its financial results for fiscal 2020. Worldwide sales for the year ended on March 28, 2020 dropped 10.3 per cent to £542.1 million compared to the sales of £604.3 million in same period last year. Total group revenue fell 17.6 per cent to £164.7 million (FY19: £199.8 million).#
Stores sales for the quarter slightly dropped to 94.2 per cent (95.6 per cent) for FY20, while online sales grew to 5.8 per (4.4 per cent) cent of the total group sales during FY20.
Fibre2Fashion News Desk (JL)
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