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Mothercare Q3 UK sales down 18.4%

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Mothercare Q3 UK sales down 18.4%

British retailer Mothercare PLC on Jan. 9 posted 18.4% decline year over year in total U.K. sales during the third quarter ended Jan. 5.

Like-for-like sales in the U.K. were down 11.4% while online sales for the 13-week period dropped 16.3%.

Mothercare's international sales were also down 1.1% on constant currency basis.

The company attributed the sales decline to lower levels of discounting and less clearance stock relative to the previous year

The retailer said the company is on track with its transformation plan for at least £19 million of annualized cost savings. Mothercare also completed the sale and leaseback of its U.K. head office.

The department store chain added that its store closure program in the U.K. is ahead of schedule. By April, 36 stores will be closed.

Mothercare will have 79 stores in the U.K by the end of March 2019, compared to 137 during May 2018.