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Mothercare PLC (MTC.L)

MTC.L on London Stock Exchange

13.80GBp
17 Oct 2019
Change (% chg)

0.15 (+1.10%)
Prev Close
13.65
Open
13.80
Day's High
13.80
Day's Low
13.80
Volume
3,000
Avg. Vol
433,921
52-wk High
24.88
52-wk Low
13.13

Latest Key Developments (Source: Significant Developments)

Lombard Odier Asset Management Discloses 12.64% Stake In Mothercare As Of Sept 30 Vs Prior Stake Of 7.45% - Filing
Tuesday, 1 Oct 2019 

Oct 1 (Reuters) - Mothercare PLC ::LOMBARD ODIER ASSET MANAGEMENT (EUROPE) LIMITED DISCLOSES 12.64% STAKE IN MOTHERCARE PLC AS OF SEPT 30 VERSUS PRIOR STAKE OF 7.45% - FILING.  Full Article

Mothercare Expects Conditions In UK To Remain Challenging
Thursday, 4 Apr 2019 

April 4 (Reuters) - Mothercare Plc ::FY19 Q4 TRADING UPDATE.SIGNIFICANT STRATEGIC PROGRESS AND FULL YEAR PROFIT IN LINE WITH MARKET EXPECTATIONS.FULL-YEAR PERFORMANCE REMAINS UNCHANGED AND IN LINE WITH PREVIOUS GUIDANCE.ON TRACK TO DELIVER AT LEAST 19 MILLION POUNDS OF ANNUALISED COST SAVINGS.UK LIKE-FOR-LIKE SALES DECLINE OF 8.8 PCT DURING QUARTER.FY INTERNATIONAL RETAIL SALES DOWN 4.9 PCT IN CONSTANT CURRENCY; DOWN 4.5 PCT IN ACTUAL CURRENCY.HAVE FURTHER REDUCED LEVELS OF DEBT AS PART OF ASPIRATION TO BE BANK DEBT FREE BY END OF 2019.INTERNATIONAL RETAIL SALES IN CORE MARKETS DOWN 5.7 PCT IN CONSTANT CURRENCY DRIVEN BY ECONOMIC AND TRADING CHALLENGES IN MIDDLE EAST.DISRUPTION FROM BOTH ORGANISATIONAL CHANGES AND UK STORE CLOSURES "IS NOW LARGELY BEHIND US".UK STORE CLOSURE PROGRAMME HAS BEEN COMPLETED AHEAD OF SCHEDULE."EXPECT MARKET CONDITIONS IN UK AND IN SOME INTERNATIONAL MARKETS TO REMAIN CHALLENGING".NOW HAVE 80 STORES IN OPERATION, DOWN FROM 137 STORES A YEAR AGO IN UK.MOTHERCARE SAYS "DISRUPTION WE HAVE SEEN FROM BOTH ORGANISATIONAL CHANGES AND UK STORE CLOSURES IS NOW LARGELY BEHIND US".LOOKING AHEAD, EXPECT MARKET CONDITIONS IN UK AND IN SOME INTERNATIONAL MARKETS TO REMAIN CHALLENGING.  Full Article

Richard Griffiths And Controlled Undertakings Raises Stake To 18.40 Pct In Mothercare
Friday, 15 Mar 2019 

March 15 (Reuters) - Mothercare PLC ::RICHARD GRIFFITHS AND CONTROLLED UNDERTAKINGS RAISES STAKE TO 18.40 PERCENT FROM 17.83 PERCENT IN MOTHERCARE PLC - FILING.  Full Article

Mothercare To Sell Some Early Learning Centre Assets; UK Store Closures Ahead Of Schedule
Tuesday, 12 Mar 2019 

March 12 (Reuters) - Mothercare PLC ::UPDATE ON TRANSFORMATION AND DISPOSAL OF ELC.REMAINS ON TRACK WITH GROUP'S TRANSFORMATION PLAN.UK STORE CLOSURE PROGRAM, WHICH WILL RESULT IN A TOTAL ESTATE OF 80 STORES BY END OF MARCH 2019, IS AHEAD OF ORIGINAL SCHEDULE.ON TRACK TO DELIVER COST SAVINGS OF AT LEAST £19 MILLION PER ANNUM IN AGGREGATE.THROUGHOUT LAST NINE MONTHS, CO PROGRESSIVELY REDUCING NET DEBT, AND ITS ASPIRATION REMAINS TO BE BANK DEBT FREE BY END OF 2019.PROPOSED DISPOSAL OF BUSINESS AND CERTAIN ASSETS OF EARLY LEARNING CENTRE LIMITED TO TEAL BRANDS LIMITED.NET PROCEEDS FROM DISPOSAL AND INVENTORY SALES WILL BE USED TO REDUCE GROUP'S BANK DEBT BY C.£17.5 MILLION OVER NEXT YEAR.DISPOSAL OF BUSINESS AND CERTAIN ASSETS OF EARLY LEARNING CENTRE LIMITED FOR UP TO £13.5 MILLION.PRODUCT OUTSOURCING INITIATIVE IS UNDERWAY WHICH WILL BEGIN TO YIELD MARGIN BENEFITS FROM AUTUMN/WINTER 2019.  Full Article

Jupiter Asset Management Cuts Stake To Below 5 Pct In Mothercare
Monday, 18 Feb 2019 

Feb 18 (Reuters) - Mothercare PLC ::JUPITER ASSET MANAGEMENT LIMITED CUTS STAKE TO BELOW 5 PERCENT IN MOTHERCARE PLC - FILING.  Full Article

Mothercare Says Plans For Full-Year Remain Unchanged
Wednesday, 9 Jan 2019 

Jan 9 (Reuters) - Mothercare PLC ::TRADING UPDATE.CHALLENGING TRADING CONDITIONS IN UK PERSIST, IN PART DUE TO ONGOING STORE CLOSURE PROGRAMME.ON-TRACK TO ACHIEVE ALL ELEMENTS OF GROUP'S STRATEGIC TRANSFORMATION PLAN.PLANS FOR FULL-YEAR REMAIN UNCHANGED AND IN LINE WITH OUR PREVIOUS GUIDANCE.UK LIKE-FOR-LIKE SALES DECLINE OF 11.4% DURING QUARTER.ONLINE SALES DECLINE OF 16.3% IN QUARTER IMPACTED BY LOWER WEBSITE FOOTFALL, LOWER IPAD SALES IN STORE.ON TRACK WITH STRATEGIC TRANSFORMATION PLAN TO DELIVER AT LEAST £19 MILLION OF ANNUALISED COST SAVINGS.ON COURSE TO HAVE 79 STORES BY END OF MARCH 2019, DOWN FROM 137 IN MAY 2018.LOOKING AHEAD, OUR INTERNATIONAL BUSINESS CONTINUES TO SHOW SIGNS OF RECOVERY.UK STORE CLOSURE PROGRAMME AHEAD OF SCHEDULE WITH 36 STORES CURRENTLY IN CLOSING DOWN MODE; CLOSURES WILL COMPLETE BY APRIL 2019.Q3 SALES WERE IMPACTED BY LOWER LEVELS OF DISCOUNTING AND LESS CLEARANCE STOCK RELATIVE TO PRIOR YEAR.UK BUSINESS WILL NOW OPERATE WITH DISCIPLINE OF A FRANCHISE.  Full Article

Mothercare is cutting a net total of 150 jobs at its Watford head office - Sky News
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - :MOTHERCARE IS CUTTING A NET TOTAL OF 150 JOBS AT ITS WATFORD HEAD OFFICE - SKY NEWS.  Full Article

Mothercare Says All Resolutions Passed At General Meeting
Thursday, 26 Jul 2018 

July 26 (Reuters) - Mothercare PLC ::AT GENERAL MEETING, ALL OF RESOLUTIONS WERE DULY PASSED BY REQUISITE MAJORITY OF SHAREHOLDERS.HAVE TODAY COMPLETED REFINANCING OF GROUP.WILL ISSUE 170.9 MILLION NEW ORDINARY SHARES UNDER PLACING AND OPEN OFFER, RAISING GROSS PROCEEDS OF APPROXIMATELY £32.5 MILLION.CONDITIONS IN RETAIL SECTOR REMAIN CHALLENGING.  Full Article

Mothercare Says CVA Proposals Were Approved By Requisite Majorities Of Unsecured Creditors
Friday, 1 Jun 2018 

June 1 (Reuters) - Mothercare PLC ::CVA PROPOSALS WERE APPROVED BY REQUISITE MAJORITIES OF MORE THAN 75% IN VALUE OF UNSECURED CREDITORS OF COMPANIES PRESENT AT EACH OF MEETINGS IN PERSON OR BY PROXY.CVA PROPOSALS ARE NOT EXPECTED TO AFFECT ORDINARY COURSE OF OPERATIONS OF CO, WHICH CONTINUES TO TRADE AS A GOING CONCERN UNDER CONTROL OF DIRECTORS.CO IS NOT, AND WILL NOT BE, IN ADMINISTRATION AS A RESULT OF APPROVAL BY CREDITORS OF CVA PROPOSALS.IN ACCORDANCE WITH STATUTORY PROVISIONS, THERE IS A LIMITED PERIOD, EXPIRING ON JUNE 29 , IN WHICH A CREDITOR MAY APPLY TO COURT TO CHALLENGE CVA PROPOSALS.NEW EQUITY ISSUE COMPRISING PLACING AND OPEN OFFER OF ORDINARY SHARES TO RAISE ABOUT £28M EXPECTED TO COMPLETE IN JULY PRICED AT 19P A SHARE.REVISED DEBT FACILITIES OF £67.5M PROVIDED BY CO'S EXISTING LENDERS REMAIN CONDITIONAL UPON, AMONGST OTHER THINGS, COMPLETION OF NEW EQUITY ISSUE.  Full Article

Mothercare CEO Is Said To Have Proposed A Management Buyout- Bloomberg
Wednesday, 23 May 2018 

May 23 (Reuters) - :MOTHERCARE CEO IS SAID TO HAVE PROPOSED A MANAGEMENT BUYOUT- BLOOMBERG,CITING SOURCES.MOTHERCARE CEO MARK NEWTON-JONES PROPOSED TAKING THE STRUGGLING RETAILER PRIVATE BEFORE HIS DEPARTURE IN APRIL- BLOOMBERG,CITING SOURCES.  Full Article

UPDATE 2-UK's Mothercare sees no growth in annual profit as shoppers turn gloomy

* Interactive graphic on Mothercare's performance here https://tmsnrt.rs/2HWV8dn (Adds details on sector, debt, share price)