Mothercare bosses buy into weakness

7th Sep 2011 14:24

Recent falls in baby products retailer Mothercare's share price have tempted bosses into the stock.Chairman Alan Parker bought 60,000 shares at 346p a time, spending more than £200,000, his first purchase of shares in the company. Non-executive director Amanda Mackenzie bought 6,000 shares at the same price, also a first purchase. Richard Rivers, also a non-exec, bought 10,000 shares, paying 347.9p a time and now has 18,000, while another non-exec, David Williams, took 3,000 shares at 347.4p and now as 41,300.Parker was appointed chairman of Mothercare last month. He is the former chief executive of Whitbread, the owner of the Costa coffee shop and Premier Inn hotel chains.Shares in Mothercare have fallen sharply since early summer. The company has been suffering in the weak economic climate in the UK, where sales fell in the first quarter. However, overall revenues were boosted by a strong overseas performance.Mothercare said in July that it is developing its newest market, Latin America and plans to open its first stores in Chile later this year.