Mothercare appoints new ceo following half-year results

The nursery brand reported a fall in revenue for the 26 weeks ended 24 September to £38.5 million from £41.7 million a year earlier.

Pre-tax profit for the period dropped to £800,000 from £4 million in the previous year.  Mothercare attributed the drop in sales and profit to the lost retail sales in Russia after it terminated its right to operate Mothercare branded stores in Russia at the end of June.

Clive Whiley, chairman, said: “Our results demonstrate the strong foundations and resilience we have created in the business over recent years. Furthermore, we have generated both profit and case despite the impact of Covid-19 and the war in Ukraine.

“Our immediate priority now remains to support our franchise partners as we together navigate out of this suppressed demand period, recover from supply chain disruptions and rebuild their store footfall whilst growing their digital sales. This inevitably means that a return to pre pandemic levels of trading is taking time, however this will ultimately benefit both our own business and our franchise partners’ businesses in the longer term.”

Joining in January, Daniel Le Vesconte will be the group’s new chief executive officer. Dan brings a wealth of international brand experience in direct to consumer, franchise, wholesale and licensing, having held senior leadership roles for several globally recognised brands including Abercrombie and Fitch, Hollister and Gilly Hicks, Dr Martens, Vans and Reef.

Clive commented: “I am delighted that Dan is joining Mothercare as our ceo. Dan’s extensive experience in the retail direct-to-consumer, wholesale and licensing sector will be a great asset to the team and me as we focus upon restoring critical mass and driving the Mothercare brand globally over the next five years.”

Dan added: “I am very excited to be part of the Mothercare team and look forward to working with our global stakeholders to spearhead the growth of the iconic Mothercare brand into the next generation.”

 

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