By Sabela Ojea
Mothercare PLC said Monday that adjusted earnings before interest, taxes, depreciation and amortization for fiscal 2022 are now expected to be ahead of market views, and that revenue is still being hit by Covid-19 related issues.
The UK baby-products retailer said adjusted Ebitda for the year ended March 26 is expected to be in the range of 11.5 million and 12 million pounds ($15 million-$15.6 million.)
Revenue for the year increased 7% to GBP385 million, it said, noting that it has suffered issues related to its franchisee markets.
“Retail sales remain below the levels we would otherwise expect and are around 25% down on the total retail sales for similar territories in the year before the pandemic,” it said. Online retail sales represented 10% of total retail sales, slightly down on the 12% performance of the prior year.
The London-listed company said it continues to expect to suffer a GBP6 million hit to its fiscal 2023 earnings as a result of the suspension of sales in Russia. Some GBP88 million of Mothercare’s retail sales came from the country in the year, the company said.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
Credit: www.marketwatch.com /