Mothercare's shares plunge on report of poor Christmas sales
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
London
MOTHERCARE Plc reported a sharp drop in UK sales over the holiday season, underlining the depths of the country's retail crisis as store owners wrestle with higher costs and a shift to online shopping.
Like-for-like sales in the UK declined 7.2 per cent in the 12 weeks through Dec 30, the childrenswear retailer said on Monday. Gross margins are also set to fall due to higher levels of discounting required to reduce stock in post-Christmas sales, the company said. Its shares plummeted as much as 32 per cent, the biggest intraday decline on record.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
