Mothercare suspends Russian business, shares tank

Mothercare

3.67p

14:19 15/11/24

0.00%

0.00p

Mothercare shares crashed on Wednesday after the retailer said it had suspended its operations in Russia, to which it has significant exposure.

FTSE AIM All-Share

728.67

15:45 15/11/24

n/a

General Retailers

4,597.92

15:44 15/11/24

-0.15%

-7.02

The company said it had suspended all of its business there, including shipment of all products. Mothercare’s local partner will immediately pause operations in some 120 stores and online.

With Russia representing around 20% to 25% of the group’s worldwide retail sales, the shares took a hit and by 0815 GMT, were trading down 26% at 10.05p.

The country was previously expected to contribute around £0.5m per month to group profit.