Mothercare CEO: 'We have a long way to go to bring UK business back'

Simon Calver, chief executive of parenting retailer Mothercare has said he would be "ruthless" on costs after reporting £103 million loss today. Mr Calver, who came to Mothercare from internet movie rental firm Lovefilm, said:

We have a long way to go, and the plan to bring the UK business back to acceptable levels of profitability will take three years.

We need to invest in e-commerce, be ruthless with our non-store cost base and use our scale and growth worldwide to drive sourcing economies and pass these savings onto the customers to improve our value for money around the world.

Advertisement

Today's top stories