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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Aug- 2023 -16 AugustHigh Street
Axing tourist tax would ease high street woes, says Pandora boss
Pandora UK&I general manager Rasmus Brix has said that in light of the cost-of-living crisis and ongoing train strikes, eliminating the tourist tax would create a “significant boost” for the high street. Brix told The Mail the firm was “missing out” due to the absence of VAT-free shopping for visitors…
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14 AugustClothing & Shoes
Sweaty Betty owner lowers outlook amid Q2 revenue decline
Sweaty Betty owner, Wolverine Worldwide, has lowered its revenue and earnings outlook as it experienced a decline of 17.4% in revenue to $589.1m (£463.8m) in Q2. While revenue from the ongoing business was slightly better, it was still down at $578.2m (£455.2m) – a decline of 13.8% on a constant…
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11 AugustClothing & Shoes
Ralph Lauren reaffirms guidance as revenues edge up to $1.5bn
Luxury retailer Ralph Lauren has revealed it expects FY revenues to meet expectations of low single digit growth as its Q1 revenues increased to $1.5bn (£1.18bn), up from $1.49bn (£1.17bn) the same time last year. Its revenue performance was boosted by an 8% increase in Europe to $450m (£354m) and…
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10 AugustLuxury Goods
Watches of Switzerland sees revenues drop to £382m
Watches of Switzerland has announced that its revenues dropped 1% to £382m, down from £391m in Q1 2023, for the 13 weeks ended 30 July 2023. The company stated that its revenue was in line with guidance, with its Q1 revenue primarily reflecting unwinding of the benefit of product intake…
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8 AugustPeople Moves
Neptune appoints Will Kernan as chairman
British interiors and lifestyle brand Neptune has appointed Will Kernan as its chairman. Kernan joins Neptune’s senior leadership team to closely support CEO Aalish Yorke-Long in executing exciting plans to lead the brand into its next stage of growth. It said Kernan has “extensive” retail experience, and will continue in…
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8 AugustClothing & Shoes
Frasers ups stake in Asos to nearly 17%
Mike Ashley’s Frasers Group has announced that it has once again upped its stake in Asos to nearly 17%. The news comes after the group upped its stake in the online retail company to over 10% in June. Additionally, Frasers also acquired 7.8% stake in Boohoo last month. Prior to…
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3 AugustHigh Street
Pets at Home revenues jump 7.9% to £436m
Pets at Home has announced that its group revenue rose 7.9% to £436.8m for the 16 weeks ended 20 July 2023. The company’s consumer revenues rose 10.2% to £568.2m supported by both volume and value growth. Its vet group revenue was up 16.3%, with a like-for-like increase of 16.6%, increasingly…
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3 AugustClothing & Shoes
Zalando sees adjusted EBIT rise to €144.8m in Q2
European e-commerce retailer Zalando has reported an 87% surge in adjusted EBIT to €144.8m (£124.6m) during the second quarter of the year. The group said that its profitability was boosted by better order economics amid bigger average basket sizes resulting in lower fulfilment costs. In combination, this also led to…
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3 AugustDepartment Stores
Next ups guidance by £10m following strong Q2
Next has raised its full-year outlook following a strong second quarter of trading, with profit before tax now expected to be £845m, £10m higher than its previous guidance. It comes as total sales in the second quarter rose by 6.9% against the prior year. Online sales rose by 10% over…
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2 AugustClothing & Shoes
Hugo Boss raises guidance amid strong Q2 sales
Hugo Boss has raised its full-year guidance after a 20% increase in group sales to €1.02bn (£880m) during the second quarter of the year ended 30 June 2023. The group now expects its sales to increase between 12% and 15% to €4.1bn (£3.52bn) and €4.2bn (£3.61bn) for the full year.…
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