Mothercare suffers poor pre-Christmas sales and issues profit warning

Mothercare has adjusted its profits forecast after experiencing poor sales in the run-up to Christmas.
It has issued a profits warning and admitted it was disappointed with UK sales in recent weeks. It said that spending was down in its stores and also online.
The high street baby retailer said its UK like-for-like sales were down 7.2% in the 12 weeks to December 30. Online sales saw a drop of 6.9%, reports the Birmingham Mail.
As a result, Mothercare now expects adjusted group profit for the year is likely to be in the range of £1 million to £5 million.
Chief executive Mark Newton-Jones... read more