Mothercare's share price crashes after slumping to £16.8m loss as it becomes latest casualty of tough high street
Shares in Mothercare have slumped over 16 per cent after the retailer posted a £16.8million half-year loss and warned of a 'softening' UK market.
With a tough UK market, 'challenging' trading in the Middle East and a turnaround scheme in full swing, the retailer's total sales fell by 2.4 per cent.
Across its UK operations, Mothercare's half-year like-for-like sales rose 2.5 per cent to £229million. Online sales increased by 5.4 per cent.
Mothercare's share price is currently down 16.47 per cent to 69.75p.
The company reported an adjusted pre-tax loss of £0.7million, down from a profit of... read more
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