Troubled retailer Mothercare (LON:MTC), which replaced its CEO last month, saw worldwide sales drop 9.2% in Q4 and a 0.3% fall in total group sales. The new chief David Wood, who joined the retailer this month, said the group performance for FY18 was in line with previous guidance and the UK’s retail trading environment “remained relatively muted” as footfall at its stores continue to reduce. His first priority, he says, is to put the company back on “sound financial footing.”
Stationary retailer WH Smith (LON:SMWH) reported a lacklustre set of interim results on Thursday with earnings largely unchanged. A 7% increase in sales at its travel division was not enough to offset weakness at its high street stores with revenue falling 5% in the six months to February. Pre-tax profit came in at £82m on sales of £643m. CEO Stephen Clarke remained upbeat saying the company had made a “good start” to the second half.
Elsewhere, travel and insurance company Saga Communications Inc (NYSE:SGA) said it faced a “challenging market” in 2017. Underlying pretax profit rose 1.4% to £190.1m while revenue lost 1.3% to £860.1m. CEO Lance Batchelor said the numbers were in line with their “rebased profit expectations” at the end of last year and that he is confident recent investment will drive the business forward. The dividend was increased 5.9% to 9p.
Recruiter Hays Plc (LON:HAYS) reported its 20th consecutive quarter of year-on-year growth in Q3, with group net fees increasing 9%, boosted by its international business. CEO Alistair Cox said 20 of the 33 market achieved double-digit growth with the exception of the UK and Ireland which saw net fees fall 2%.
Hedge fund Man Group Plc (LON:EMG) reported $4.8bn of net inflows in the first three months of 2018, as investors poured money into their alternative risk premia, European long short and emerging market strategies. That helped to lift funds under management by about 3% to $112.7bn in Q1. CEO Luke Ellis is continuing the company’s share repurchase plan with plans to buy another $100m of stock. The team is also still on the hunt for potential acquisitions.