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More retail misery for UK High St: Mothercare sees its market value almost halved

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Old 05-10-2011, 05:21 PM
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Default More retail misery for UK High St: Mothercare sees its market value almost halved

In the latest instalment of British retail misery, Mothercare saw its stock market value almost halved today after it warned it faces tough times this winter.

The retailer – which caters to mothers-to-be and new mothers with its ranges of babies' and children's goods - sent shockwaves through the retail sector by revealing its UK sales were 'well below' expectations.

Like-for-like sales were down 9.6% in the 12 weeks to October 1, it said, and the outlook for the all-important winter trading period had 'materially worsened'.

Its shares plummeted 134p or 43% today after the trading update to 176p. The stock was trading at 620p earlier this year.

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Old 01-12-2013, 03:13 PM
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Old 01-12-2013, 04:53 PM
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