Mothercare reveals £103m loss after closing 111 stores

Mothercare plc sees profits Credit: ITV News

The uphill challenge faced by the new boss of Mothercare was underlined today as a dismal UK performance dragged the parenting retailer to a £103 million loss.

The group saw like-for-like sales tumble 6.2% in the year to March 31 in the UK, where it plans to cut store numbers from 311 to 200 by 2015 in a bid to save £13 million a year.

Presenting his first set of results, Simon Calver, who joined at the end of April, said he would be "ruthless" on costs as he rolls out a three-year turnaround plan.