British mother and baby products retailer Mothercare is accelerating its expansion overseas, particularly in India, and has raised its profitability target for international stores.
The firm, which is taking analysts on a tour of its operations in India, said today it expected total overseas network sales to double to £1 billion by 2014.
It will open 175 overseas stores in its 2010-11 financial year, up from previous guidance of 150, and 150 a year from 2011-12 onwards, up from a previous target of 100.
That will increase overseas selling space by about 15-20 per cent a year.
Mothercare, which has been battling a tough consumer backdrop in Britain, said it would have 70 stores in India by March, and would increase that to at least 200 by March 2015.
It is also targeting a 20-30 basis point increase in international profit margins per year, up from its previous goal of 10-20 basis points.
Reuters
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