Mothercare shares tumble today

Mums and toddlers giant Mothercare lost almost a fifth of its market value today after warning of another downturn in trading and parting with its embattled chief executive.

Shares in the struggling retailer dived in morning trading as the group said it now expected to make a loss in the first half of its financial year after suffering a sharp fall in sales.

Boss Chris Martin, 41, who has spent months battling against teething problems at the group’s new distribution warehouse in Daventry, Northamptonshire, was leaving "with immediate effect".