Month: November 2019
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Nov- 2019 -27 NovemberDIY
Ikea profits slip amid increased focus on online business
DIY retail giant Ikea has reported a 10% decrease in profits for the year to the end of August 2019, amid an increased focus on its online business. The retailer said online sales growth was close to 50% during the period and is now surpassing 10% of total retail sales.…
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27 NovemberOnline & Digital
Sosandar revenues soar in half-year results
Online fashion brand Sosandar saw revenues increase by 53% to £2.82m in the six months to 30 September 2019. It also revealed that orders grew by 47% to 64,709, as active customers increased by 70% reflecting the increased brand awareness following the trial of new marketing initiatives.” However, Sosandar made…
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27 NovemberHigh Street
Shop prices fall for sixth consecutive month
Shop prices fell for the sixth consecutive month, according to the November BRC-Nielsen Shop Price Index. Overall prices fell by 0.5% year-on-year compared with a 0.4% price decrease in October. Non-food item prices also decreased by 1.6% year-on-year. Meanwhile, food item prices increased 1.4% year-on-year, reflecting an ease in inflation…
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27 NovemberDIY
SCS reports sales slump
Furnishings retailer SCS has reported a fall in like-for-like sales amid “growing political uncertainty”. In the 17 week period ended 23 November, like-for-like sales fell by 7.1%. Meanwhile, overall like-for-like sales fell by 4% in a two-year period. The company said this was an “improvement” on the like-for-like trading in…
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26 November
Sports Direct International set to rebrand as Frasers Group
Sports Direct International is set to change its name to Frasers Group, the parent company of Sports Direct has revealed. The name change forms part of a new “multi-channel elevation strategy” that aims to provide “unrivalled multi-brand offering to customers across sport, lifestyle and fashion”. News of the rebrand comes…
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26 NovemberDIY
Topps Tiles warns of ‘heightened economic uncertainty’ as sales slump
Topps Tiles has reported a 7.2% decrease in like-for-like revenues for the first eight weeks of its new financial year, due to “heightened political and economic uncertainty”. The DIY retailer warned that it has seen “weakened” consumer demand since the UK general election was called in late October, and comes…
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26 NovemberHigh Street
Pets at Home reveals ‘strong’ first half results
Pets at Home has reported a “strong” first half in the 28 weeks to 10 October, resulting in a pre-tax increase of 10.2% to £41.7m. Retail sales rose by over 8% in the first half as omnichannel revenues increased by 31.7% to £46.5m The pet retailer said group revenue also…
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26 NovemberHigh Street
Black Friday offers ‘few genuine discounts’, claims Which?
Nearly all Black Friday deals were either cheaper or available at the same price at other times of the year, according to consumer watchdog Which?. The group analysed prices of 83 tech, home and personal products for the course of a year, starting six months before Black Friday 2018, and…
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25 NovemberComment
How can social media be used to build customer loyalty?
The UK’s high street retailers are continuing to struggle – in September 2019 analysts recorded the highest net closure rate since records began. 1,234 chain retailers closed shop in the first half of 2019, which is more than any other period since monitoring started in 2010. This is largely driven…
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25 NovemberHigh Street
Clarks calls in advisors to review business
Shoe retailer Clarks has called in management consulting firm McKinsey & Co to review its business. A spokesperson told Retail Sector that the company is “unable to share any specific details” of its new strategy, but did confirm that it is “transforming” the brand to “reconnect” with its consumers by…
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