Nursery Today magazine

Mothercare chief warns it's still 'early days' on turnaround

Mark Newton-Jones has admitted it has been a “hell of a year” and is still “early days” as he bids to turn around the buggy and babywear retailer.

The Watford-headquartered retailer reported today that it has halved its full-year statutory losses to £13.1m. Total group sales fell by 1.5% to £713.9m. However, UK like-for-likes were up 2%, the first rise in five years.

Speaking to Retail Week, CEO Mark Newton-Jones said that the group was “only a year in” to the recovery plan, but declined to put a timeframe on the turnaround effort. “It’s been a hell of a year and it feels like we’ve squeezed two years into one,” he said.

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