Mothercare delays FY results by a day
Mothercare has delayed the release of its full-year results by a day to Friday, but said it continues to expect underlying results to be in line with market expectations.
"As a result of the complexity of our financial year ended 30 March 2019 - which included the £117.5m refinancing and associated UK and group restructuring, the disposal of both Early Learning Centre and our head office property, we have decided to reschedule the announcement of our full year results by one day," it said.
The struggling retailer has shut 40 stores over the past few months, shrinking its estate to 80 in April from 137 the year before. It posted an 8.8% drop in fourth-quarter UK like-for-like sales back in April, and warned that market conditions in the UK and in some international markets were expected to remain challenging.
Analyst Clive Black at Shore Capital said: "Whilst perhaps a little unnerving for investors, today's news is but a storm in a tea cup compared to the much choppier waters faced by Mothercare in recent times."
At 0950 BST, the shares were down 5.1% at 20.21p.