Last year Mothercare cut net debt by 84 per cent as a result of reductions in rent, store costs, and other overheads. Like-for-like sales in Britain, where it has been losing money for more than a decade, were down nearly nine per cent while annual worldwide sales slipped eight per cent. The brand saved more money than expected from store closures on which it has pinned its recovery and hopes to be debt-free this year. Mothercare, which floated in 1972, has closed a third of its British stores over the past year.

Mothercare, based in Britain, owns brands like Little Bird, Baby K and Blooming Marvellous. It is the worldwide category leader in fashion products for newborn, babies and toddlers. Facing competition from a new generation of web-based players, Mothercare has done a huge amount of refinancing, restructuring and reorganizing. The next phase of the strategic transformation plan is to develop Mothercare as a global brand, maximising the opportunities across many international markets.

Mothercare would look to gain an online presence in four more countries this year. Online sales currently contribute to 45 per cent of its annual sales in Britain and represent five per cent of its global turnover.