Guidance
This coverage focuses on trading guidance, financial outlooks, and performance updates issued by UK retail businesses. Retail Sector reports on company forecasts, profit warnings, earnings revisions, and strategic updates that shape investor sentiment and corporate planning across the retail industry. Coverage includes analysis of market reactions, executive commentary, and sector-wide trends influencing guidance from leading retailers. For retail professionals, this category provides critical insights into financial health, market expectations, and business confidence driving decision-making within the UK retail economy.
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Mar- 2024 -18 MarchNews
Today’s news in brief-18/3/24
The Saudi PIF, along with Kering, is reportedly eyeing a stake in Selfridges as the store’s co-owner, Central Group, faces financial struggles due to the collapse of its Austrian partner, Signa. The potential deal, valued around £2bn, is complicated by legal proceedings in Austria. Selfridges reported a narrowed loss and…
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18 MarchElectrical
Currys ups profit guidance after takeover bid fails
Currys has revealed that it expects its full-year pre-tax profit to be “at least £115m” after predicting it would land between £105m and £115m earlier in the period. The company stated that this was due to positive like-for-likes and robust gross margins. Furthermore, the company’s disposal of its Greek business…
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15 MarchPeople Moves
THG NED to step down after 14 years
THG has revealed that Iain McDonald has informed its board of his intention to step down as a non-executive director at the end of March 2024, shortly after his 14th anniversary as a THG director. The company said McDonald is both a “highly-valued and experienced” member of THG’s board, who…
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14 MarchClothing & Shoes
Adidas reports first loss in 30 years after Kanye fallout
Adidas has posted its first loss in more than three decades following the financial blow from abandoning its deal with the rapper Kanye West. The group reported a loss of €58m (£50m) in 2023 compared with €254m (£217m) profit in the prior year. The company also reported a 5% decrease…
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8 MarchClothing & Shoes
Foot Locker net losses widen to £300m in Q4
Foot Locker has reported a net loss of $389m (£304.8m) for the fourth quarter ended 3 February 2024, one year into the footwear and clothing retailer’s turnaround strategy. The loss comes after the group reported a net income of $19m (£14m) in the previous year’s Q4, which was caused by…
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5 MarchFeatures
What are the effects of VAT taxes on the tourism industry?
The term “tourism tax” has recently been used to refer to taxes imposed on goods and services supplied to international tourists. Up until 31 December 2020, VAT-free shopping enabled international visitors in the UK to get a VAT refund on goods purchased in the UK, making them 20% cheaper. Recently,…
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4 MarchFeatures
A history of John Lewis
In the busy British retail landscape John Lewis stands out as a high street stalwart. From its humble beginnings as a drapery shop in Victorian-era Oxford Street to its evolution into a nationwide chain of department stores, the history of John Lewis is a testament to the enduring values of…
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Feb- 2024 -22 FebruaryNews
Yoox Net-A-Porter launches virtual try-on pilot
Yoox Net-A-Porter has launched its inaugural virtual try-on pilot in a bid to continue to elevate its online shopping experiences. The technology is being rolled out for 90 styles across the Mr P. Permanent collection available on MR PORTER, accounting for 70% of the range. The initiative powers a tailored…
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21 FebruaryDepartment Stores
Strong Walmart sales boosted by omnichannel model in Q4
Walmart has reported strong fourth quarter results, as revenues grew by 5.7% to $173.4bn (£137bn) over the holiday quarter. Its performance was boosted by its omnichannel model, which it said “continues to resonate with customers helping to deliver strong growth”. Elsewhere, it reported a consolidated operating income up $1.7bn (£1.3bn),…
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13 FebruaryFeatures
Top retail tech trends in 2024
As 2024 unfolds, the retail industry is facing a spectrum of formidable challenges: a myriad of technologies, the complexities of omnichannel retailing, and the imperative of sustainability are all reshaping the landscape. Retailers are now focusing beyond just identifying trends; they are committed to providing analytics that demonstrate the tangible…
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