Mothercare (MTC)

Mothercare MTC Logo

The leading global retailer for parents and young children.

23-Nov-2017 – 83.5p – £138.8m – PER 7.32

Interim Results For The 28 Week Period To 7th October 2017 – “Continued transformation of the brand, converting into positive UK like-for-likes set against a challenging consumer backdrop” – Doesn’t exactly seem transformational to me.

I just can’t get interested here. Still too many negatives even though online sales are up 57% and now make up 42% of Revenue. I just see people in the future using a collective market (Amazon) than a specific one – It’s usually cheaper and delivery can be within 2 hours.

8-Jan-2018 – 62p – £105.9m – PER 8.99

Trading Update For The 12 Weeks To End December 2017 – Ouch! UK LFL sales down 7.2% (international down 3%), online sales down 6.9% and lower margins.

A share already on my Avoid list and one that will remain there.

12-Apr-2018 – 17p – £29.0m – PER 6.97

Q4 Trading Update For The 12 Weeks To 24 March 2018 – Uninspiring – Continues “to explore additional sources of financing to support and maintain the momentum of our transformation programme”.

Remains on my Avoid list.

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