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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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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21 MayNews
Today’s news in brief-21/5/24
Zuber Issa is poised to acquire the UK arm of EG Group, a move indicating the Issa brothers’ business paths are diverging. This acquisition excludes Cooplands bakery, certain Starbucks outlets, and EG’s electric vehicle charging business, Evpoint, with the deal expected to conclude by late June. Additionally, Zuber Issa is…
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21 MayDIY
B&Q owner holds guidance as UK&I outperforms European arms
Kingfisher has announced that it will be maintaining its profit guidance after Q1 sales at B&Q in the UK and Ireland offset its weaker performance at its groups in France and Poland. During the period to 30 April, sales rose 0.3% to £3.3bn. However, sales declined 0.9% on a like-for-like…
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1 MayClothing & Shoes
Adidas raises profit guidance amid ‘strong’ Q1 results
Adidas has raised its profit guidance from €500m (£426.8m) to €700m (£597.6m) following a “better-than-expected” performance in the first quarter 2024. The group reported an operating profit of €336m (£286.8m) compared with €60m (£51.2m) in the prior-year period, reflecting an operating margin of 6.2% (2023: 1.1%). In the first quarter…
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1 MayDIY
Wickes maintains FY outlook despite LFL sales decline
Wickes has maintained its full-year profit guidance, despite overall like-for-like sales for the first 16 weeks to 20 April falling by 4.2% against the same period last year. While it said the trading environment remains uncertain, the group expects its “solid” start to the year within its retail offering to…
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