July 26, 2019 / 6:18 AM / 2 months ago

UK's Mothercare sees no annual profit growth as consumer confidence falters

July 26 (Reuters) - Struggling British baby products retailer Mothercare Plc said on Friday its annual underlying pretax profit would not grow as it grapples with an uncertain and volatile home market along with fragile consumer confidence.

The mother and baby products retailer, which has been hit hard by intense competition from supermarket groups and online retailers in its main UK market, said total UK sales were 23.2% lower for the 15 weeks ended July 13, following an extensive store closure programme.

Mothercare also said it had worked to create the “optimal structure” for its UK retail operations as an independent Mothercare UK franchise. (Reporting by Tanishaa Nadkar and Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)

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