Mothercare appears to have its corner of the retail sector all sewn up.

Today, the maternity and baby specialist unveiled a stellar set of results, with UK sales ahead of expectations and international sales soaring.

It is a repeat story for the retailer that rarely puts a baby step out of place.

Admittedly, its offer is largely recession-proof – people continue to have children and spend money on their little ones come what may – and the figures will have benefited from currency gains in its international division, but it hasn’t reached the heady heights of retail success based on that alone.

The business has benefited from being well positioned in good times and bad, and being extremely well managed.

Mothercare is one of few retailers to really conquer international expansion, with a considered roll-out strategy and by picking good franchise partners.

It has also made wise investments including the acquisition of the Early Learning Centre in June 2007, now paying dividends.

Mothercare has got to this position at the end of one of the toughest years retailers have had to face without taking a major hit to margins through heavy discounting, something that few others, except perhaps Next, can claim to have done.

However, margins at Mothercare are set to come under pressure in the present year as sterling depreciates and will only be partly offset by currency gains in its international division.

It shouldn’t go without saying that this success has been spearheaded by a capable team headed up by chief executive Ben Gordon, who joined around six years ago at a time when Mothercare was one of the sickest retailers.

Gordon’s appointment was controversial – he joined from Disney Europe, a product man by training – and yet he has proved himself as one of the most well respected turnaround guys in the industry.

And speaking at the Retail Week Conference last month, Gordon revealed that Mothercare’s ambitious growth plans internationally and online continue unabated.

How long the growth will continue remains to be seen, but it is showing no signs of stopping in one of the toughest trading periods in retail history. Mothercare is one retailer that really has grown up.

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