UK: Mothercare Enjoys Same-Store Sales Rebound
The Watford-based operator of around 250 stores said in a statement ahead of its annual general meeting gross margins were up five percentage points on 2002 thanks to a greater emphasis on full price trading and improved buying margins.
Chairman Ian Peacock said: "Warehousing and distribution is now working effectively and the resulting availability improvement has benefited both sales and margins."
In May, Mothercare reported a pre-tax loss before exceptionals of £19.6 million versus a year-ago profit of £4.2m and announced plans to shut 15 under-performing stores.
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