Luxury Goods

The latest news, updates and analysis on the luxury goods segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.

  • Jan- 2024 -
    12 January
    Burberry lowers full-year guidance amid luxury demand slowdown

    Burberry lowers full-year guidance amid luxury demand slowdown

    Fashion retailer Burberry has today (12 January) warned that its full-year results will be below its previous guidance after a slowdown in luxury demand.  In the 13 weeks to December 30, retail revenue fell 7% to £706m. Comparable store sales fell 4%, with sales in the EMEIA and Americas regions…

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  • 4 January
    Barbour FY23 profits fall despite healthy sales rise

    Barbour FY23 profits fall despite healthy sales rise

    Barbour has revealed that operating profits fell 15% to £34.3m for the year ended 30 April 2023, despite seeing sales increase by 20% year-on-year to £343m during the period. The retailer attributed the dent in its operating profits to “intense cost pressures” on the business. In February 2023, the luxury…

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  • Dec- 2023 -
    14 December
    Farfetch in talks with Apollo over rescue deal

    Farfetch in talks with Apollo over rescue deal

    Farfetch has reportedly entered talks with Apollo Global Management to secure emergency funding in a bid to rescue the group. According to Sky News, Apollo is one of a “number of firms” in talks with the group, with sources adding a deal was far from being reached, and that it…

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  • 7 December
    Watches of Switzerland posts flat H1 sales

    Watches of Switzerland posts flat H1 sales

    The Watches of Switzerland Group has reported H1 revenues were relatively flat at £761m as it faced a “reduction in the broader jewellery market reflecting temporary softer consumer sentiment and a repositioning to full price sales in the US”. The performance comes despite “continued strong momentum in the US” with…

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  • 5 December
    Jules B eyes CVA following ransomware attack

    Jules B eyes CVA following ransomware attack

    Independent luxury retailer Jules B is reportedly considering a company voluntary arrangement (CVA), following a £79,200 ransomware attack in September, According to  Drapers.  The proposal to implement a CVA comes after the MD and co-founder of Jules B, Julian Blades, is said to have appointed KSA Group to help it…

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  • Nov- 2023 -
    30 November
    Mulberry H1 losses leap 79% despite healthy revenues

    Mulberry H1 losses leap 79% despite healthy revenues

    Luxury fashion group Mulberry revealed that operating losses grew 79% to £10.4m, despite a 7% increase in revenues to £69.7m for the half year ended 30 September.  The retailer also sustained an underlying loss before tax of £12.3m, which increased from £2.8m in 2022. This included £3.3m of SaaS costs,…

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  • 29 November
    Farfetch owner eyes taking business private as it delays results

    Farfetch owner eyes taking business private as it delays results

    The owner of luxury fashion site Farfetch, José Neves, is reportedly planning on taking the company private just five years after it floated on the New York Stock Exchange, according to The Telegraph. Since its listing in 2018 Farfetch has seen 90% of its value wiped out, as such Neves…

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  • 16 November
    Burberry issues profit warning as luxury sales slow

    Burberry issues profit warning as luxury sales slow

    Burberry has revealed its annual adjusted operating profits would be towards the lower end of its current consensus range of £552m-£668m following a slowdown in demand for luxury goods. This comes despite a 4% increase in revenues to £1.396bn during the 26 weeks ended 30 September 2023. Q2 comparable store…

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  • 13 November
    Majestic Wine plans 50 new store openings

    Majestic Wine plans 50 new store openings

    Majestic Wine is planning to expand its high street presence with the opening of 50 more stores over the next four or five years, its boss has told The Telegraph.   CEO John Colley told the paper that brick-and-mortar sites will remain “sacrosanct” for the group, which has already opened 15…

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  • 2 November
    Zalando EBIT up 72% despite falling Q3 revenues

    Zalando EBIT up 72% despite falling Q3 revenues

    Zalando has reported that its EBIT increased 72% to €23.2m (£20.2m) during Q3, despite revenues and gross merchandise volumes falling by 3.2% and 2.4% respectively.  The online fashion retailer managed to improve its EBIT during the quarter through reduced logistics costs, but revenues did not materialise amid low consumer sentiment…

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