Mothercare PLC (MTC.L)
19 Jul 2019
Fri, May 24 2019
Embattled UK retailer Mothercare Plc slashed its outstanding net debt to just under 7 million pounds last year as it completed a programme of store closures that its leadership hopes will put the company on a more solid financial footing.
* Shares rise by as much as 20% (Adds details of restructuring, analyst comment)
May 24 Britain's main index firmed on Friday, helped by strong gains in mining heavyweights, while retailer Mothercare jumped after it reported a narrower annual loss and a lower debt burden.
May 24 Embattled UK retailer Mothercare Plc racked up another 67 million pounds in pre-tax losses in the year ending 2018 as it completed a programme of store closures that its leadership believes will put the company on a more solid financial footing.
May 23 Baby products retailer Mothercare Plc said on Thursday it would delay unveiling full-year results by one day due to the complexity surrounding its restructuring, store closures and divestments. The company's main UK business has been losing money for more than a decade as its traditional place on the UK high street collapses in the face of a new generation of online players, forcing the company to unveil a survival plan in July that closed over a third of its UK stores.
April 4 The pace of falls in like-for-like store sales at baby products retailer Mothercare Plc eased slightly in the final quarter of its 2019 fiscal year, but the company said British and international market conditions remained challenging.
April 4 Baby products retailer Mothercare Plc said on Thursday that quarterly UK like-for-like sales fell 8 percent and it expects its British and some international market conditions to "remain challenging".
March 12 British baby products retailer Mothercare Plc said on Tuesday it plans to sell its educational toy brand ELC to Teal Brands Ltd for 13.5 million pounds ($17.85 million) as it looks to cut debt, sending its shares up 6 percent.
March 12 British baby products retailer Mothercare plc said on Tuesday it plans to sell its educational toy brand to Teal Brands Ltd for 13.5 million pounds ($17.85 million) as it looks to cut debt.