News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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May- 2023 -4 May
Mothercare enters refinancing talks ahead of FY results
Mothercare has kicked off refinancing talks with its lender in a bid to renegotiate or refinance its debt facility amid rising interest rates, whilst welcoming “resilient” trading over the last year. The group expects to report adjusted EBITDA of £6.5m to £7m for FY23, which would be ahead of analysts’…
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4 May
Virgin Wines sales to be lower than expected in FY23
Virgin Wines expects FY23 sales to be “slightly” lower than market expectations at around £60m, with the group’s underlying profit before tax to be in the region of £0.5m and £1m. This comes as the wine retailer experienced operational issues with its software, which affected the implementation of the new…
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4 May
Hugo Boss reports sales up 25% to €968m
Hugo Boss has reported that its sales increased 25% to €968m (£850.8m) during the first quarter of the year, compared with €772m (£678.5m) in Q1 2022. The German retailer attributed the year’s strong results to its ‘Claim 5’ strategy’s “consistent implementation”, which gave the business “considerable momentum throughout the quarter.”…
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4 May
Next maintains guidance despite better than expected sales
Next has maintained its profit guidance for the full-year despite seeing better than expected sales figures for the first quarter. The company stated that its profit before tax is forecast to be £795m and earnings per share is expected to be 501.9p. Full price sales dropped 0.7% for the 13…
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3 May
Grocery sales fall to 7% amid rise in promotional spending
Total Till grocery sales were subdued in April falling back from 11.7% to 9.7% amid a surge in spending on promotional items, according to the latest data from NIQ. It found that sales of items on promotion at UK supermarkets rose to 23% in the last four weeks ending 22…
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3 May
Dyson seeks permission for £100m research centre in Bristol
Dyson plans to invest £100m in a new research and development building opposite Castle Park, close to Bristol Bridge, which would be home to hundreds of software and artificial intelligence engineers, the BBC has reported. According to the engineering giant, it chose Bristol for its plans for the city’s reputation…
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3 May
John Lewis Partnership appoints new audit and risk committee chair
The John Lewis Partnership has appointed Nicky Dulieu to its board, where she will become chair of the audit and risk committee as well as a non-executive director. Joining with immediate effect, Dulieu succeeds Andy Martin, who has stepped down from the role after five years with the group. She…
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3 May
Skechers appoints new UK&I managing director
Footwear company Skechers has recently announced the appointment of Richard Parker as managing director of the United Kingdom and Ireland. Having worked at the company for 22 years, Parker has held almost every position within the UK&I sales division, starting as an area sales manager before moving to work with…
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3 May
AYBL To Grow: £30m athleisure brand saves 1,000s of hours with Inventory Planner
Key facts Shopify-powered women’s activewear brand that’s experienced 360% growth to reach a revenue of £30M Uses Inventory Planner to accurately forecast demand, automate and streamline purchasing and make data-driven decisions that support growth Impact: 100 hours a month reclaimed, three hires saved, excess stock eliminated and more “Inventory Planner…
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3 May
Superdry to raise £12m via share sale
Superdry has announced that it intends to issue 15,700,000 new ordinary shares of 5p each in the capital of the company at 76.3 pence per Ordinary Share to raise gross proceeds of approximately £12m. Co-founder and chief executive Julian Dunkerton, who owns a 25% stake in the business, has agreed…
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