Yahoo Finance Mothercare chairman Alan Parker leaves ailing retailer
Alan Parker, the chairman of toy and baby-clothes seller Mothercare, on Thursday quit the struggling retailer.
His resignation comes two weeks after chief executive of four years Mark Newton-Jones was ousted by top brass who were dissatisfied with the speed of turnaround. Retail veteran Parker then brought in David Wood — his fourth chief executive in his six years at Mothercare — to overhaul of the business and secure emergency cash.
The retailer has been grappling with a slump in sales and changing shopping habits as well as increased competition from the likes of Sainsbury’s — which had even considered bidding for it — and discount chain Poundland. Same-store sales dropped 2.8% for the 12 weeks to March 24, and international retail sales fell 3.7%. However, its online sales were up 2.1%.
Parker (pictured), who is replaced by Stanley Gibbons non-executive director Clive Whiley, said: “His experience of successful refinancing and restructuring will steer Mothercare through its next phase.”
