Mothercare plc (GB:MTC) has released an update.
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Mothercare plc reports a 13% drop in net worldwide retail sales to £281 million for FY24, with a slight improvement in adjusted EBITDA to £6.7 million, aligning with market expectations. Despite ongoing global economic challenges and inventory issues from the pandemic, the company’s focus remains on supporting franchise partners and leveraging the Mothercare brand. The company is also in talks to renegotiate its loan facility due to high-interest rates and the need for covenant waivers.
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