Mothercare to invest £20m into new stores

LONDON (Brand Republic) – UK baby-goods retailer Mothercare is ploughing £20m into its Mothercare World large-format stores after it revealed pre-tax profits of £2.2m for the six months to October 14.

The figures are a healthy contrast to the £15.7m loss the company posted for the same period last year.

The results were Mothercare’s first after it changed its name from Storehouse in July, a move that followed the sale of its Bhs chain to retail entrepreneur Philip Green for £200m.

Mothercare chief executive Chris Martin said there was much to do to turn the business around, but stressed its recovery plan was beginning to bear fruit.

This article was first published on brandrepublic.com