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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Jan- 2023 -13 January
N Brown sees Q3 sales slip 7.6%
N Brown has revealed its third quarter sales dropped by 7.6% to £249.2m in the 18 weeks to 31 December. Sales at heritage brands Ambrose Wilson, Home Essentials, Fashion World, Marisota, Oxendales and Premier Man dropped by 17.6%, while strategic brands Simply Be, JD Williams and Jacamo saw a 5.5%…
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13 January
Card Factory appoints new CFO
Card Factory has announced the appointment of Matthias Seeger as its new chief financial officer. He is expected to take up his new role in May 2023. Seeger has been CFO of Ambassador Cruise Line Limited since February 2022, having previously been CFO of Costcutter Supermarkets Group from September 2015…
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13 January
Very retail sales up 2.2% over Christmas period
Very Group has announced that its retail sales increased by 2.2% compared with the trading period in 2021 for the Christmas and Black Friday season, despite group sales dipping by 1.3%. Compared to the pre-pandemic period in FY19, retail sales were up by 19.6%. The group’s sales in the toys,…
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12 January
Strong Christmas boosts Tesco’s Q3 sales to £19.7bn
Tesco has announced revenues of £19.7bn, a 6.1% increase, in the UK and ROI for the 19 weeks ended 7 January 2023. The supermarket chain also saw a 6.1% increase in like for like sales for the period including a nearly 8% increase over Christmas. As a result of this…
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12 January
Halfords lowers guidance as lack of technicians hampers growth
Halfords has lowered its full-year profit guidance after it revealed that a challenging labour market meant a lack of skilled technicians combined with a weak tyre market hampered growth. In a trading update for the 13 weeks to 30 December 2022, it confirmed group revenues increased 38.3% and 12.6% LFL…
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12 January
M&S sees sales soar 10% over Christmas
M&S has revealed its food sales rose 10.2% in the three months until December 31, with like-for-like sales up 6.2%, as the grocer outperformed the market. Alongside this, top tier M&S collection sales also grew by over 20%. The business also revealed its clothing and home sales increased 8.8%, with…
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12 January
Asos revenues fail to climb over Christmas period
Asos has failed to capitalise on the festive season as revenues for the four months ended 31 December fell by 3%, reflecting tough trading conditions, delivery disruptions and weak consumer sentiment. According to the online fashion giant, it expects the “volatile” trading of the period to continue through the next…
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12 January
Pepco Q1 revenues hit record €1.65bn
Pepco Group, the parent company of Poundland in the UK, has delivered record trading for the Christmas period as revenues hit €1.65bn (£1.4bn) for Q1 of FY23 ending 31 December 20222. As the group “outperformed” the wider market, its revenues for the first quarter represents year-on-year growth of 27%. The…
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11 January
JD Sports ups guidance amid strong Christmas trading
JD Sports has raised its full-year guidance after a “particularly impressive” business performance over the Christmas period, both in stores and online, as retail revenue over the period grew 20%. As a result, JD now expects its profit before tax and exceptional items for the year ending 28 January 2023…
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11 January
Boohoo to axe roles at London office
Boohoo Group is set to make a series of job cuts across its London office, and is reportedly consulting on more than 100 redundancies. According to the Times, the majority of roles under threat are in its e-commerce, buying and design departments. A consultation reportedly launched last week, though a…
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