Financial Results
This coverage analyses UK retailers’ financial results, including revenue, profit, margin performance, and quarterly updates. Reporting highlights underlying sales trends, cost pressures, executive commentary, and strategic guidance — offering insight for finance leaders, commercial directors, and retail executives assessing performance and making informed decisions.
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Oct- 2024 -29 OctoberNews-In-Brief
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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23 OctoberNews-In-Brief
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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9 OctoberNews-In-Brief
Today’s news in brief-9/10/24
Shein’s UK arm reported robust financial results for 2023, with revenues climbing 38% to £1.55bn and pre-tax profits doubling to £24.4m. These figures surpass rival Boohoo’s latest annual revenues. The company also announced plans for an IPO in London, pending regulatory approval, to capitalise on its growth momentum and expand…
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Aug- 2024 -9 AugustSport & Leisure
Mountain Warehouse FY sales hit ‘record’ £386m amid new openings
Mountain Warehouse has revealed that store sales rose 7.1% to a “record” £386m in the year to 25 February, owing to the group’s 28 store openings – including its debut in Australia. The group has attributed its performance to shoppers returning to the high street after the height of the…
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5 AugustLuxury Goods
Ferragamo net profits plummet 73% in H1
Ferragamo’s net profits plummeted 73% to €6m (£5.1m) for the first half of the year ended 30 June 2024. In Q2 2024, total revenues for the luxury retailer amounted to €296m (£253m), down 6% at constant exchange rates, penalised by a “weak” Asian market and wholesale environment. In H1, group…
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Jul- 2024 -8 JulyHealth & Beauty
Superdrug FY23 pre-tax profits hit £111m
Health and beauty retailer Superdrug has revealed its pre-tax profits jumped 43% to £111.6m during the 52 weeks ended 31 December 2023. Superdrug said the positive figures have been driven by strong retail store performance, increased sales volume and continued own brand growth as sales increased 11% to £1.52bn. Superdrug…
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Jun- 2024 -24 JuneNews
Today’s news in brief-24/6/24
Shein’s plans for a £50bn flotation in London are under threat due to mounting concerns from Chinese officials over negative portrayals of the company in the UK. The British Fashion Council has expressed significant reservations about Shein’s business practices, particularly around labor exploitation. Although the company is based in Singapore,…
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24 JuneSport & Leisure
Under Armour agrees to $434m settlement amid shareholder lawsuit
Sportswear brand Under Armour has agreed to a $434m (£342.7m) settlement in a 2017 shareholder lawsuit. The case alleges that Under Armour and CEO Kevin Plank violated U.S. securities law by making materially false and misleading statements and failing to disclose adverse information about Under Armour’s business and operations to…
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May- 2024 -22 MayOnline & Digital
Music Magpie trading in line with expectations amid takeover talks
Music Magpie has announced that its Q2 trading has been broadly in line with management’s expectations and has benefitted from cost control and lower overheads amid takeover talks. Ahead of its AGM today (22 May 2024), the group has stated that its FY23 financial results on 13 March 2024, started…
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15 MayClothing & Shoes
Burberry profits plummet 40% amid luxury spending slowdown
Burberry has seen its pre-tax profits nosedive 40% to £383m in its full-year results, down from £634m the prior year, as the high-end retailer was hit by a slowdown in luxury spending. It comes as sales tumbled by 4% to £2.97bn in the year ended 30 March, with its full-year results…
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