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Wednesday, November 18, 2009

Mothercare creates 400 new jobs

Mothercare, the baby products retailer, has announced it will create 400 jobs as part of plans to open 33 parenting centres across the UK.

Eight parenting centres - Mothercare's largest store format - will have opened in time for Christmas, with a further 25 centres opening by the end of 2011.

The firm also reported pre-tax losses of £7.1m for the six months to 10 October, due to accounting adjustments.

Without the adjustments, it made a profit of £10m, up 11% on a year ago.

Sales for the six months were £387.3m, up 7.9% on the £359m the company made in the same period last year.

Mothercare also said it would be increasing its interim dividend by 20%.

"This has been another strong half for the Mothercare group. International has delivered a record first half with retail sales up 29.6% and store openings ahead of plan," said Ben Gordon, the retailer's chief executive.

He added that Mothercare had opened 85 stores already this year.

The eight parenting centres open by Christmas will be in Stoke, Newton Abbey, Poole, King's Lynn, Lewisham, Colliers Wood, Kirkcaldy and Yeovil.

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