Financial Results

Nike posts lowest sales in years as it warns of $1bn tariff hit

Nike has seen fourth quarter revenues fall by 11% to $11.1bn (£8.08bn), its lowest sales figure since Q3 in 2022, as it warned that Trump’s tariffs could cost it an extra $1bn (£730m). In its final quarter, the sportswear retailer also saw net income plunge 86% to $211m (£530.6m). In…

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Dr Martens FY profits fall to £34m as sales drop 8%

Dr Martens has reported that adjusted pre-tax profits fell to £34.1m, or £40.3m on a constant currency basis, down from £97.2m in its latest financial results.  Despite this, the group said it is expecting “a return to profit growth” in FY26 as its turnaround strategy progresses. According to the group’s…

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Is kidswear holding fashion retailers back?

Children’s apparel rarely commands the spotlight in retail reporting – but when it underperforms, the drag is felt quietly across the balance sheet. In its latest financial results, Adena Brands – owner of Monsoon and Accessorize – reported a £7.5m pre-tax loss and an 11% decline in group sales. The…

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Topshop to return to high streets through wholesale partners

Asos has signed agreements with a selection of wholesale partners to put Topshop back on the high street, the group has confirmed in its financial results released yesterday (24 April).  While these deals will bring the brand back to brick-and-mortar retailers, Asos is still prioritising the relaunch of a standalone…

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Watches of Switzerland set to close 16 showrooms

Luxury watch retailer Watches of Switzerland is reportedly set to close 16 showrooms across the UK, putting 40 jobs at risk, according to the BBC. Watches of Switzerland told the outlet that affected staff from its 709-strong team will be redeployed where feasible, adding that its “priority [was] to support…

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Adidas sees revenues surge 24% to €5.97bn in Q4

Adidas has reported “better than expected” Q4 results as its revenues grew 24% to €5.97bn (£5.17bn) compared with €4.81bn (£4.17bn) in 2023. Excluding Yeezy sales in both years, currency-neutral revenues increased 18%. The company’s gross margin also increased 5.2 percentage points to 49.8%, while its operating profit reached €57m (£49.4m),…

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Customer satisfaction levels lowest since 2015, UKCSI finds

UK customer satisfaction levels remain near their lowest level since 2015, the twice-yearly report by The Institute of Customer Service on the state of service has revealed. The latest UK Customer Satisfaction Index (UKCSI), which benchmarks customer satisfaction of over 260 of the UK’s leading businesses and has run since…

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Boots sales rise 8.1% in Q1

Boots has delivered a “strong” first quarter with total comparable retail sales up 8.1% YoY for the three months ended 30 November 2024.  The UK’s leading health and beauty retailer saw growth across all categories and channels, on top of a “significant increase” in the prior year.  Boots’ digital sales…

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Today’s news in brief-29/10/24

The British Retail Consortium (BRC) has urged the chancellor to prioritise keeping prices low as shop price deflation reached 0.8% in October, marking its lowest rate since August 2021. Food inflation also eased, with fresh food and ambient food prices falling. BRC’s CEO Helen Dickinson stressed that although this trend…

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Today’s news in brief-23/10/24

Chancellor Rachel Reeves is reportedly considering imposing higher taxes on Amazon as part of a broader effort to support British high streets, which have been struggling to compete with online giants. The proposed measures could come after her upcoming autumn budget, which is expected to introduce tax hikes and spending…

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