news
The fi rm gave no reason for Mr Calver’s departure, but said he had resigned with immediate effect and would leave the company at the end of March. Mr Calver joined Mothercare in April 2012.
Announcing Mr Calver’s
departure, Mothercare said it remained confi dent in the underlying strength of the business and that full-year results should be in line with current forecasts. Mothercare has been carrying out a restructuring plan in an attempt to stem losses at its UK business, including the closure of many stores. However, the retailer issued a profi t warning in January. The warning was triggered by disappointing trading over the Christmas period, when the retailer suffered from fi erce 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 board is commencing the search for a chief executive immediately. For the interim
period, the executive management of the company will remain responsible for the day- to-day running of the business and will report directly to the chairman. Simon Calver will provide transitional support until the end of March. Mothercare said Mr Calver would receive a payment of £250,000 in lieu of six months’ notice.
The toy trade’s number 1 resource for news and analysis
Click and Topps sign distribution deal
Click Distribution UK has signed a UK exclusive distribution agreement with trading card and sticker fi rm, Topps, that will make the company the sole supplier of Topps products in the UK to all non-news trade outlets. Mark Hillier, managing director, Click Distribution UK, said: “We’ve always had a fantastic and mutually benefi cial relationship with Topps since we started the business over six years ago. We’re extremely proud to be strengthening that partnership as the go-to supplier of Topps products in the UK and we look forward to working even more closely with them in the future to drive sales across their portfolio.” Chris Rodman, group managing director, Topps Europe, added: “Click’s excellent retail
distribution network and expertise will provide Topps with the ability to better service the ever- increasing demand for Topps’ market-leading sticker and trading card collections in sectors of the market not currently serviced by the news trade.”
Mothercare chief executive Simon Calver resigns
Character Group reports strong Christmas results
Character Group has revealed that it made good progress over the Christmas period both at home and abroad as stock levels improved and purchases matched expectations.
The company said that besides solid Christmas sales, it has also has begun to see signs that post-Christmas sales have remained strong, with sales being driven by popular products such as Minecraft, Teksta and character toys Peppa Pig and Fireman Sam. In a pre-AGM trading update, the company said: “Whilst the growth of UK sales across several categories is pleasing, it is also satisfying to note that international distribution and sales continue to develop strongly.” The statement also said it is too early to change any fi nancial projections for the fi nancial year ending August 2014, but it believes that its balanced portfolio should provide continued growth.
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