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INTERVIEW-Mothercare stepping up expansion in China

Published 10/15/2009, 03:36 AM
Updated 10/15/2009, 03:39 AM

* CEO says to open 5-6 stores in China in H2

* To enter Australia, South Africa in H2

* Doesn't expect analysts to change forecasts

* Happy at Mothercare, when ask if interested in M&S top job

By Mark Potter

LONDON, Oct 15 (Reuters) - Mothercare, the British mother and baby products retailer, is stepping up its expansion in China and plans to open five or six stores there in the second half of its financial year, its chief executive said.

Ben Gordon told Reuters the firm had trialled, with its joint venture partner, two stores in China last year and had opened a further two shops since then.

"Nineteen million babies a year (are born in China), so clearly the opportunity is huge," he said in a telephone interview on Thursday.

He said Mothercare, which earlier reported a 7 percent rise in second-quarter sales, would outline its longer-term ambitions for China alongside interim results in November.

Gordon said the firm was on course to open at least 100 stores abroad this financial year, and would enter Australia and South Africa in the second half to take it to 53 international markets.

He did not expect analysts' to change their full-year profit forecasts following the second-quarter update.

Asked whether he would be interested in moving to Marks & Spencer, which is looking for a new chief executive, Gordon said: "I'm just happy where I am." (Editing by Jon Loades-Carter)

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