This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-26319882
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Mothercare chief executive Simon Calver resigns | Mothercare chief executive Simon Calver resigns |
| (35 minutes later) | |
| Mothercare chief executive Simon Calver has resigned, the mother-and-baby products retailer has announced. | |
| The company said Mr Calver had resigned from his position with immediate effect and would be leaving the company at the end of March. | |
| Mothercare said it remained confident in the underlying strength of the business and full-year results should be in line with current forecasts. | Mothercare said it remained confident in the underlying strength of the business and full-year results should be in line with current forecasts. |
| In January, the retailer's shares dived after it issued a profit warning. | In January, the retailer's shares dived after it issued a profit warning. |
| The warning was triggered by disappointing trading over the Christmas period, when the retailer suffered from fierce price competition in the UK and weak economic conditions overseas. | |
| Group worldwide sales fell 6.1% in the 12 weeks to 4 January, with UK like-for-like sales down 4%. | |
| The retailer operates 191 Mothercare stores and 40 Early Learning Centre outlets in the UK. It also has 1,201 international stores across 59 countries. | |
| It has been scaling back the number of stores it operates in the UK as part of a restructuring plan. | |
| In a statement, Mothercare chairman Alan Parker said: "Since Simon Calver joined Mothercare PLC in April 2012, under his leadership the company has made progress in implementing the Transformation and Growth plan. | |
| "In particular, Simon Calver's e-commerce expertise has allowed Mothercare to accelerate its development as a multi-channel retailer in the UK. We wish him well in the future. | |
| "Mothercare has a strong executive management team which is very capable of running the business in the interim while the search for a new CEO is under way." |