January 8, 2018 / 7:15 AM / 7 months ago

BRIEF-Mothercare Says UK Like-For-Like Sales Fall Of 7.2 Pct

Jan 8 (Reuters) - Mothercare Plc:

* ‍UK LIKE-FOR-LIKE DECLINE IMPACTED BY LOWER FOOTFALL AND SPEND, BOTH IN STORES AND ONLINE​

* ‍INTERNATIONAL SALES REMAIN CHALLENGING, STABILIZING TOWARD END OF PERIOD​

* ‍ONLINE SALES FOR 12 WEEK DECLINE OF 6.9%. ONLINE SALES NOW REPRESENT C42% OF TOTAL UK SALES​

* ‍OVERALL GROUP PERFORMANCE BELOW EXPECTATIONS​

* ‍TOTAL UK SALES LOWER THAN LAST YEAR, REFLECTING ONGOING STORE CLOSURE PROGRAMME​

* ‍UK LIKE-FOR-LIKE SALES DECLINE OF 7.2%​

* ‍ONLINE SALES DECLINE OF 6.9%. ONLINE SALES NOW REPRESENT C42% OF TOTAL UK SALES​

* ‍INTERNATIONAL RETAIL SALES WERE DOWN 3.0% IN CONSTANT CURRENCY AND DOWN 6.8% IN ACTUAL CURRENCY​

* “‍WE ARE NOT ANTICIPATING ANY IMPROVEMENT IN SHORT-TERM MARKET CONDITIONS FOR UK”​

* ‍WE EXPECT NET DEBT AT YEAR-END OF APPROXIMATELY £(50)M, AND AT THIS LEVEL WE HAVE SUFFICIENT LIQUIDITY AND COVENANT HEADROOM WITHIN OUR EXISTING FACILITIES​

* ‍ADJUSTED GROUP PROFIT FOR YEAR IS LIKELY TO BE IN RANGE OF £1-5M​ Source text for Eikon: Further company coverage:

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