Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Retail

Mothercare needs more time to work on results

Retailer's year to end-March included restructuring, refinancing and disposals of one business and the head office

Mothercare PLC (LON:MTC) said its finances were so complicated that it needed an extra day to work on them.

The seller of products for parents and young children said its full-year results announcement, which had been due on Thursday, would now come out on Friday.

READ: Mothercare posts another quarterly decline in sales but leaves full-year guidance unchanged

Directors said this was “a result of the complexity of our financial year ended 30 March”, which included the £117.5mln refinancing and restructuring last May, the disposal of the Early Learning Centre and the group’s head office.

Mothercare, which has form when it comes to changes of mind after last year bringing back former chief executive Mark Newton-Jones only months after giving him the sack, said one thing it was certain about was that it expects to deliver underlying results in line with market expectations.

Last month the group said it was saving costs by shutting stores as UK like-for-like sales fell 8.8% in the fourth quarter and 11.4% in the third.

After shuttering 40 stores in the past three months as part of the company voluntary arrangement with creditors last year, there are now just 80 stores in the UK, down from 137 a year earlier.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK