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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May- 2020 -22 MayClothing & Shoes
Clarks to cut 900 jobs as part of new ‘made to last’ strategy
Clarks has announced the launch of its long-term ‘made to last’ strategy that is designed to ensure that Clarks has a “sustainable and successful future”, resulting in around 900 members of staff made redundant. Making the announcement, CEO Giorgio Presca said that the new strategy aims to deliver a new…
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22 MayClothing & Shoes
Burberry sales fall 27% amid Covid-19 pandemic
Luxury fashion retailer Burberry has reported a 27% decrease in like-for-like sales in its fourth quarter results, attributing the loss to the coronavirus pandemic. The fashion retailer also revealed a 57% drop in operating profit to £189m compared with £437m during the same period last year. Additionally, in its preliminary…
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21 MayCoronavirus
Matalan reopens 15 retail park stores
Matalan has reportedly opened a select number of its stores located in retail parks across the country. According to Drapers, the retailer has reopened 15 of its stores following changes to the government’s guidance on 1 May that classes homeware as essential. As such around 417 members of staff have…
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20 MayHigh Street
Matalan founder sues PwC over ‘misguided’ tax advice
PwC is reportedly being sued by the founder of Matalan over “misguided” tax advice. John Hargreaves, who set up the business in 1975, alleges the firm failed to give him correct guidance following his move to Monaco, leaving him with substantial tax liabilities for which he was pursued by HMRC.…
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20 MaySupermarkets
Asda sees Q1 sales rise 3.5%
Big four grocer Asda has reported a 3.5% like-for-like sales rise during the first quarter of the year following a “surge” in online sales during the coronavirus lockdown. In an update for the three month period ending 31 March 2020, the supermarket said it experienced a surge in demand for…
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19 MayCoronavirus
French Connection seeks urgent funding
French Connection has revealed it is in “active discussions” with potential funding partners in order to seek emergency cash as the pandemic continues. The move comes as the fashion retailer warned of a “continued expected weak trading environment” in light of the ongoing crisis. It added that without securing additional…
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18 MayCoronavirus
Shoppers remain cautious amid lockdown easing, says Springboard
Footfall across bricks and mortar destinations increased by 3.3% between 11 May and 16 May, marking a “cautious” return of footfall, according to Springboard. The latest data from the insights group marked the fourth weekly footfall increase in six weeks, but was “more modest” than the rise of 11.7% in…
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15 MayClothing & Shoes
Boohoo secures £200m through share placing
Boohoo confirmed it has successfully raised almost £200m in funding following the placing of 58 million shares. The online retailer raised £197.7m through the successful placing of 58,140,591 shares at 340p per share, in a placing led by investment banking boutique Zeus Capital. Following the fundraise, Boohoo will have an…
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14 MayLuxury Goods
Watches of Switzerland reports 5.9% increase in revenues in Q1 results
Watches of Switzerland has reported a 5.9% increase in group revenues to £819.3m in the year to 26 April, ahead of recently revised guidance. In the 46 weeks to 15 March 2020, group revenue increased by 15.8% across both the UK, which was up by 9.4% and the US, which…
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13 MayCoronavirus
Dobbies reopens 54 UK sites amid Covid-19 pandemic
Garden centre chain Dobbies is to reopen all of 54 of its UK sites today (13 May 2020), following government guidelines to close amid the Covid-19 lockdown. The garden retailer, which temporarily closed its doors in March, said it has introduced a range of safety and social distancing measures, which…
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