January 12, 2017 / 8:07 AM / 6 months ago

BRIEF-Mothercare says UK sales return to growth in Q3

2 Min Read

Jan 12 (Reuters) - Mothercare Plc :

* Trading statement

* Fy17 q3 trading update

* International sales continue to benefit from currency, underlying performance still mixed

* Overall group performance in line with expectations

* Uk like-for-like sales were up 1.0% during quarter, benefiting from online sales growth of 5.5%. Online sales now represent c40% of uk sales

* Total uk sales up 0.6%

* Margin remains within our guidance for full year

* International retail sales were down c6% in constant currency and up c13% in actual currency, reflecting ongoing currency tailwinds

* Mixed performance continues in international with china and russia returning to growth and middle east remaining challenging

* We opened 40 stores and closed 28, ending quarter with 1,351 stores and 3.1m sq.ft. Of retail space

* " uk returned to growth following challenging summer trading period"

* "international continues to benefit from currency tailwinds, however underlying performance continues to be mixed in spite of many markets returning to growth"

* Both china and russia improved, while middle east continues to be challenging. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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