mothercare expanding
Baby product and children’s wear retailer Mothercare, who announced an 11% increase in profits recently, have announced expansion plans for both the UK and overseas markets.
Mothercare say that they will be taking on an extra 400 staff in the UK over the next three years and will be increasing the rate of new overseas outlets in what the company call an ‘ideal expansion time.’
The retailer, which also owns the toy chain Early Learning Centre, has plans to reduce its presence on the UK high street and concentrate its efforts on opening more out of town mega stores, which currently makes up 40% of their UK store space and produces 65% 0f turnover and profit.
The company are also keen to increase its presence worldwide after recording a ‘record first half ‘ in its international division, where sales from its 694 overseas stores rose by almost a third. The company opened 85 new stores during the period including franchises in China and India.
Mothercare CEO Ben Gordon said it was an ideal time for expansion as ‘Landord’s are negotiating. The boot is on the other foot right now’ and revealed that the retailer has had a ‘lot of success’ in reducing rents.
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