Belgium
This coverage examines developments in Belgium’s retail sector with relevance to UK-based retail professionals. Reporting includes market entries and exits by UK retailers, shifts in consumer behaviour, regulatory changes, property trends, and macroeconomic factors influencing cross-border operations. The content supports executives and managers evaluating opportunities, partnerships, and risks in the Belgian market.
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May- 2021 -12 MaySport & Leisure
Angling Direct FY21 revenues soar 27.1%
Angling Direct, the fishing tackle and equipment retailer, saw group revenue spike 27.1% year-on-year to £67.6m in FY21. The firm’s gross profit rose 39.5% from £16.6m in FY20 to £23.1m this year, as its EBITDA climbed £5m to £5.7m for the 12 months to 31 January 2021. Online sales at…
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Jan- 2021 -18 JanuaryClothing & Shoes
Uniqlo reports 7.2% revenue decline
Fast Retailing, the parent company of Uniqlo, has revealed the high street fashion brand’s year-on-year revenue for the quarter ended 30 November 2020 fell by 7.2%. A large profit rise in Asia alongside steady e-commerce expansion did result in a £295m (9.5%) Q1 2021 increase to the firm’s global operating…
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Dec- 2020 -4 DecemberClothing & Shoes
Primark posts £430m sales hit amid second lockdown
Primark was hit with a £430m sales loss following international lockdowns this autumn, according to Associated British Foods (ABF). Primark stores in the group’s major markets, including England, the Republic of Ireland, France and Belgium reopened in the last week, however, with ABF noting that sales have been “very strong”…
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Nov- 2020 -6 NovemberClothing & Shoes
Superdry H1 revenues fall 23.3%
Superdry has announced that total revenue fell by 23.3% in the half-year period ended 24 October 2020, reflecting the challenging trading environment attributed to the continued disruption from Covid-19. Like-for-like store trading in the last six weeks of H1 was down 32.4%, with UK trade impacted by continued social distancing…
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3 NovemberClothing & Shoes
ABF profit slumps as Primark hit by £2bn loss
Associated British Foods, the parent company of Primark, has announced that statutory operating profit tumbled 40% to £810m in the full-year ended 12 September 2020. In the same period, group revenue fell by 12% to £13.9bn following the impact of the ongoing pandemic. The full year decline in group revenue…
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2 NovemberClothing & Shoes
Primark warns of £375m lockdown hit
The parent company of Primark has warned that the retailer will face a £375m hit to sales, in an update issued ahead of the nationwide lockdown that begins this week. As of today (2 November), all Primark stores in the Republic of Ireland, France, Belgium, Wales, Catalonia in Spain and…
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Mar- 2020 -17 MarchClothing & Shoes
H&M sales increase despite being ‘negatively impacted’ by Covid-19
Fashion retailer H&M has reported a rise in sales in its first-quarter results, despite being “negatively impacted” by the outbreak of Covid-19. For the period ended 1 December 2019, H&M reported an 8% increase in net sales to SEK 54,988m (£46,609m) compared with £51m in the year prior. H&M said…
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Jan- 2020 -30 January
Frasers Group settles Belgian tax dispute
Frasers Group has announced it is in the clear with Belgian authorities over an outstanding tax bill that equated to £571m. Belgian authorities had been looking into a number of matters with the group, including ‘Matter 1’, which accounted for 73% of the total £571m owed. In its latest update,…
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Dec- 2019 -16 DecemberHigh Street
Sports Direct profits soar in half-year results
Shares in Sports Direct jumped more than 16% to 418p in early trading today, after the retailer announced a 160% increase in profits to £193.4m in its half-year financial report. The sports fashion retailer said the profit growth was largely due to “improved” underlying EBITDA, which increased by 21.8% to…
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Oct- 2019 -24 OctoberHigh Street
Sports Direct appoints RSM UK as new auditor
Sports Direct has announced the appointment of RSM UK Group as its new auditor with immediate effect. It ends a six-week hunt for a new auditor, after Grant Thornton announced it was stepping down from the position on 13 August 2019. At the time, the firm said “following a review…
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