British maternity specialist Mothercare suffered a slowdown in like-for-like sales in its core UK market during the fourth quarter, but annual turnover exceeded GBP1 billion (USD1.53 billion) for the first time.
International like-for-likes rose by 2.2 percent over the year. Direct sales climbed 15.3 percent in the quarter and 16.3 percent in the year.
Mothercare opened 119 shops overseas, bringing the international store count to 728. "Our new joint venture in India is performing particularly well and we are planning at least 38 new stores in the coming year taking the number in India to 70," says Ben Gordon, Mothercare CEO.
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(Source: Retail Week)