UK: Mothercare CEO Leaves, Takeover Speculation
The sudden departure of Mothercare Plc's CEO Chris Martin, coupled with its fourth profit warning in a year, have led to speculation that the mother-and-baby store group could soon be the target of a takeover bid. Mothercare said same-store sales fell 3.1 per cent in the 14 weeks to 12 July as mothers headed instead to Wal-Mart's Asda, GAP and Next.
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