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Gloucestershire Business News

Mothercare losses top £21 million

Maternity retailer Mothercare has seen its full year losses grow after the pandemic hit trading in each of its markets across the globe.

In the year to 27th March, the retailer which closed its final stores last summer, saw its statutory loss grew to £21.5 million - up from £8.5 million in the previous year, as reported by Retail Gazette.

Turnover slumped by nearly half - down 47.9 per cent to £85.8 million.

International retail sales by franchise partners fell to £358.6 million from a £542.1 million the previous year.

Despite the losses, Mothercare is confident for the future and says it has made a lot of progress in transforming the group. It plans to optimise the Mothercare brand globally over the next five years.

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