The new Mothercare chief executive is set to update the market on the troubled retailer’s store closure plans this week, with the group also tipped to report a sharp fall in profits. The new Mothercare chief executive is set to update the market on the troubled retailer’s store closure plans this week, with the group also tipped to report a sharp fall in profits. David Wood, who was parachuted in to replace Mark Newton-Jones just weeks ago, will lay bare the challenge the chain faces at Mothercare’s annual results on Thursday. “Mothercare clearly faces a number of challenges at this time but retains an excellent and still relevant brand in our view,” he said. Retailers across the board have been battered by weak consumer confidence off the back of soaring Brexit-fuelled inflation.

Source: Irish Independent May 13, 2018 07:52 UTC