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Friday, 25th May 2012, 12:08:41
Mothercare looks to e-commerce after £102.9m loss
Mothercare will turn to e-commerce to boost its flagging brand after it reported a £102.9 million loss for the year to March 31st.
The retailer is planning to press ahead with axing more than one-third of its UK stores and will hope that internet sales can help with the resurrection.
The loss is compared to a profit of £8.8 million in the previous year and comes after Mothercare – which also runs the Early Learning Centre stores – wrote down the value of assets and took charges for its store closures.
Chief executive Simon Calver said that the plan for Mothercare has been formed "on the things that we can control".
"We need to invest in e-commerce, be ruthless with our non-store cost base and use our scale and growth worldwide to drive sourcing economies and pass these savings onto the customers to improve our value for money around the world," he added.
Mr Calver said that he hopes to bring the UK businesses back to "acceptable levels of profitability" within three years.
Posted by Phil Williams
Reliable E-commerce hosting and support for your online business
Categories: | Ecommerce |
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