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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Oct- 2022 -7 OctoberPeople Moves
Pets at Home appoints chief people officer
Pets at Home has announced the appointment of Rachel Mooney as its new chief people officer. Prior to joining the group, Mooney held senior roles at global brands including Google and Vodafone, and was previously chief people officer at Monzo and Snow Software. According to Pets at Home, she has…
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5 OctoberSupermarkets
Tesco raises pay despite profit hit
Tesco has seen its profits tumble in the first half of the year, with profit before tax plummeting by 64% to £413m, as the group contends with “significant” cost inflation and changing consumer habits. Nonetheless, revenues rose by 6.7% to £32.5bn in the period, while the group announced it would…
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4 OctoberHigh Street
Greggs sales rise 15% in Q3
Greggs has seen its total sales rise by 14.6% for the 13 weeks to 1 October 2022, with company-managed shop like-for-like sales up 9.7% in the quarter. Despite this sales boost, year-on-year growth slowed in August given the “particularly strong” staycation effect, though momentum returned in September. The closure of…
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Sep- 2022 -29 SeptemberClothing & Shoes
Next cuts sales and profit guidance
Next plc has reported that its profit before tax is up 16% compared to the previous year at £401m, and up 22% compared with 2019 despite issuing its second profit warning this year. The company said the profit warning is due to soaring inflation and a devaluation of the pound…
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28 SeptemberClothing & Shoes
Boohoo warns of further sales decline as profits drop 90%
Boohoo has warned that its sales are likely to be hit over the remainder of the financial year due to increases in inflation-driven costs and lower sales than previously anticipated for the six months ended 31 August 2022 (H1). Revenues are expected to continue to decline and adjusted EBITDA margins…
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27 SeptemberHigh Street
Card Factory sales soars as high street business rebounds
Card Factory has welcomed revenue growth of 4.1% in its half-year results, following “good momentum within the business” as well as a “shift of customer spend back towards the high street and reversal of lockdown effects”. As customers returned to the high street, store revenue soared by 81.8% in the…
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26 SeptemberAnalysis
Made.com for sale: what went wrong?
Made.com has officially put itself up for sale amid fears the business will be unable to raise fresh equity due to plummeting consumer confidence in the UK and supply chain disruptions. The online furniture retailer revealed plans to implement additional cost reductions, such a strategic headcount review, which is set…
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23 SeptemberHealth & Beauty
Revolution Beauty to undergo investigation into audit failures
Revolution Beauty has said it will undergo an audit investigation after its failure to complete its auditing quickly enough, as it warns over its full-year profits. The multi-channel mass beauty brand provider previously announced on 2 August that the company will now report its final results for the year ended…
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21 SeptemberAnalysis
Inflation, fast fashion and how to keep shoppers in a recession
According to the Office for National Statistics (ONS), inflation is back in the single digits in August after it rose to worrying heights in July. However, despite its fluctuations, inflation has remained at record-breaking levels, damaging profits for affordable fashion retailers among others in different sectors. According to Fashion Network,…
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20 SeptemberHigh Street
Kingfisher sees profits drop 30%
Kingfisher has seen its profits fall 30% during the first half of the year ending 31 July, after reporting pre-tax profits of £474m compared with £677m at the same stage last year. The firm also saw sales fall by 4.1% on a like-for-like basis to £6,809m, although the home improvements…
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