Profit Guidance
This coverage examines profit guidance announcements and revisions from UK retailers, analysing underlying factors such as sales performance, cost pressures, and market conditions. Reporting focuses on strategic outlooks, executive commentary, and financial forecasts — offering crucial insight for retail executives, financial officers, and business leaders evaluating performance signals and making investment and operational decisions.
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Jan- 2023 -5 JanuaryHigh Street
Next ups guidance amid strong Christmas sales
Next has increased its full year profit before tax guidance by £20m to £860m, as sales in the Christmas period have been “better than anticipated”. The retailer’s profit outlook has seen an increase of 4.5% compared with last year, following a 4.8% rise in full price sales in the nine…
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Dec- 2022 -20 DecemberClothing & Shoes
Next sales ahead of expectations in Q3
Next has announced that sales were 0.4% higher than last year in the 13 weeks to 29 October, which is said to be “slightly ahead” of the fashion retailer’s expectations. It is reported that the group’ full price sales in the last five weeks experienced an increase of 1.4%, in…
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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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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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Aug- 2022 -5 AugustEconomy
Tax cuts won’t solve economic crisis, says Next CEO
Simon Wolfson, the chief executive of fashion retailer Next, has claimed that inflationary pressures can only be tackled by increasing the supply of goods and workers as tax cuts will not solve the challenges facing the British economy, according to The Telegraph. The Telegraph reported that Wolfson also predicted that…
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4 AugustHigh Street
Next raises profit guidance amid strong sales performance
Next has revealed its sales performance exceeded expectations by £50m, leading the retailer to raise its full-year profit guidance by £10m to £860m. Full price sales were 4.7% stronger than expected in the second quarter to 30 July, which Next said was due to “unusually warm and dry weather in…
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Jul- 2022 -26 JulyHigh Street
Shoezone ups profit guidance amid ‘better than expected’ trading
Shoe Zone has announced “stronger than expected” trading in its latest update detailing the figures since 29 June, with the company now expecting adjusted profit before tax for FY 2022 to be not less than £9.5m. It said the upturn was due to “higher than expected demand for summer products,…
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19 JulyClothing & Shoes
Joules raises FY profit guidance as cost cuts bear fruit
Clothing and homeware brand Joules has revealed it expects FY22 adjusted profit before tax and adjusting items to be “slightly ahead of current market expectations” as its additional cost reductions begin to bear fruit. It revealed the trading trends outlined in the group’s previous update have also continued for the…
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Jun- 2022 -17 JuneNews
Tesco sales fall amid changing customer behaviour
Tesco has revealed its UK sales dropped 1.5% for the 13 weeks ended 28 May 2022 (Q1) following changing customer behaviour due to the inflationary environment, although Tesco is still maintaining its profit guidance for the year. Overall, group retail sales rose 2% year-on-year to £13.57bn, with Tesco’s cash-and-carry business,…
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May- 2022 -23 MayDIY
Kingfisher sales drop despite supply pressures easing
Kingfisher has announced its like-for-like sales dropped 5.4% to £3.2bn in the three months ended 30 April 2022 (Q1), although this is up 16.2% from pre-pandemic levels as inflationary and supply chain pressures have eased. In the UK and Ireland, total sales fell 14.1% in Q1, but increased 16.7% on…
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