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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Oct- 2024 -30 OctoberNews-In-Brief
Today’s news in brief-30/10/24
Next is on track to surpass £1bn in profits for the first time, following a strong performance in autumn. The fashion retailer revised its full-year profit guidance from £995m to £1.005bn, citing a 7.6% increase in third-quarter full-price sales, exceeding its 5.0% projection. Colder autumn weather contrasted with last year’s…
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Sep- 2024 -20 SeptemberDepartment Stores
Next warns of store closures if equal pay appeal fails
Next has warned that store closures may be necessary if its appeal against a recent equal pay ruling fails. Last month, more than 3,500 current and former Next employees won a six-year legal fight for equal pay, with the total amount payable by the retailer estimated to be over £30m. An…
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19 SeptemberHigh Street
Next acquires 16% stake in homeware brand Rockett St George
Next has acquired a 16% stake in homeware brand Rockett St George, further furthering the partnership following the licensing agreement between the two brands. Rockett said the strategic decision represents a “pivotal moment” in the growth of their partnership and will see Next having a director on the Rockett St…
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19 SeptemberClothing & Shoes
Next ups guidance again as it closes in on £1bn profit
Next has announced that it has upped its full-year profit guidance by £15m, up to £995m, as it closes in on £1bn profit. This is the second time in two months that Next has increased its guidance after increasing it in August to £980m as a result of strong summer…
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Aug- 2024 -22 AugustClothing & Shoes
TK Maxx owner ups FY profit guidance
TK Maxx owner, TJX Companies, has revealed it has upped its FY profit guidance after its comparable store sales increased 4% during the second quarter of the year. It reported net sales for the second quarter of $13.5bn (£10.2bn), an increase of 6% versus the second quarter of Fiscal 2024.…
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1 AugustDepartment Stores
Next ups FY profit guidance amid strong summer sales
Next has raised its full-year profit guidance by £20m following a period of strong trading over the summer, as sales exceeded expectations despite the drearier weather. In the second quarter of the year, full price sales were up by 3.2%, exceeding its expectations by £42m. It had initially expected Q2…
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Jun- 2024 -12 JuneNews
Today’s news in brief-12/6/24
The UK economy stalled in April 2024, showing no growth after a 0.4% increase in March, as wet weather significantly dampened consumer spending, according to the Office for National Statistics. Services output did rise by 0.2% for the fourth consecutive month and grew by 0.9% over the three months to…
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May- 2024 -31 MayNews
Today’s news in brief-31/5/24
UK supermarkets experienced a 3.3% sales boost in May, attributed to a brief period of warm weather which saw increased sales in items such as ice cream, cider, pre-mixed alcoholic drinks, and mineral water. Visits to stores increased by 2.8%, adding 14.3m visits compared to the previous year, while online…
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31 MayClothing & Shoes
JD Sports PBT dips 8% amid ‘challenging market’
JD Sports has seen its profit-before-tax fall 8% down to £912.4m for the year ended 27 January 2024. Despite this, the company has still stated it saw “strategic progress in a challenging market”. As a result, its revenue rise 2.7% from £1.13bn in the period last year up to £1.4bn…
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29 MayNews
Today’s news in brief-29/5/24
Retail sales in the UK have seen their fastest growth since December 2022, according to the CBI Distributive Trades Survey. Sales volumes jumped by 8% in May, even as selling price inflation eased significantly to its lowest since August 2020, falling from 54% in February to 20%. Despite this improvement,…
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