Mothercare boosted by international and online sales
LONDON (Reuters) - Baby goods retailer Mothercare (MTC.L) posted a 21 percent rise in first-quarter sales, boosted by an acquisition and strong sales in its international and Direct in Home online and catalogue businesses.
The firm, with over 900 shops in the UK and abroad, said on Thursday sales rose 19.5 percent in the 15 weeks to July 11, helped by last year's purchase of educational toys group the Early Learning Centre.
Like-for-like sales were up 1 percent.
Direct in Home sales surged 78 percent, while international franchisee sales were up 50 percent, or up 9 percent on a like-for-like basis.
"The multi-channel UK business has shown resilience in a slow economic environment, strengthened by the successful Direct operations," Chairman Ian Peacock said in a statement ahead of the group's annual shareholder meeting.
Mothercare shares have outperformed the general retailers index .FTASX5370 by 67 percent since the start of the year on hopes that demand for baby goods would prove resilient to a slowdown in consumer spending which has ravaged many other retail stocks.
The shares closed at 346.25 pence on Wednesday, valuing the business at about 290 million pounds.
(Reporting by Mark Potter; Editing by Erica Billingham)
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