UK: Mothercare Swings To FY Loss, 15 Stores Axed
Maternity wear and babies' apparel chain Mothercare Plc on Thursday revealed plans to axe 15 unprofitable stores after it swung to a major full year loss. The Watford-based operator of nearly 250 outlets reported a pre-tax loss before exceptionals of £19.6 million versus a year-ago profit of £4.2m. Excluding one-off items and exceptional charges, its operating loss for the year was £10.4m.
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