Profit Warning
Profit warnings are key indicators of financial and operational challenges within the UK retail sector, often signalling shifts in market conditions or internal business pressures. For retail executives, store owners, and supply chain leaders, tracking profit warnings is essential to understanding emerging risks, competitor performance, and potential impacts on partnerships and supply chains. Retail Sector’s coverage of profit warnings includes timely reporting on announcements from major retailers, analysis of the factors driving underperformance, and insights into how businesses are responding. We provide in-depth context to help professionals across physical retail, ecommerce, and omnichannel operations make informed strategic decisions in a rapidly changing market.
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May- 2022 -16 MayNews
Made.com appoints new CFO as it issues profit warning
Made.com has issued a profit warning as gross sales and revenues are expected to drop -15% and -7% respectively, differing from the initial 0% and 7% expected growth in sales and revenue this year. The company has also appointed Patrick Lewis as its new chief financial officer, with effect from…
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Apr- 2022 -14 AprilSupermarkets
Supermarket shares crash amid Tesco profit warning
UK Supermarkets saw almost £1bn wiped off their value yesterday as the cost of living crisis began to take hold, after Tesco had warned of the future impact of rising costs and inflation in its annual report. Tesco and Sainsbury’s both saw their share prices drop following the latest update,…
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Nov- 2021 -23 NovemberSupply Chain
AO warns of profit hit amid supply chain issues
AO has warned that its full-year revenue could be hit by ongoing supply chain disruptions, with revenue now expected to be flat to minus 5% against FY21. It comes as “meaningful” supply chain challenges in its second half of trading have led to poor availability in certain categories, particularly in…
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Oct- 2021 -11 OctoberClothing & Shoes
Asos CEO steps down amid profit warning
Asos has announced that Nick Beighton will step down as CEO of the business after 12 years, as the group warned that ongoing supply chain issues may hit its profit in FY22. In a series of changes to the board, Mat Dunn, currently CFO, will take on the additional role…
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Jul- 2020 -9 JulyCoronavirus
Frasers Group to stop rent payments until it can ‘freely trade’
Mike Ashley’s Frasers Group has reportedly told landlords that it will withhold rent payments until it is “fully able to freely trade as a business”. According to a letter seen by Estates Gazette, the Sports Direct owner said although it is willing to enter negotiations with landlords but said that…
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Apr- 2020 -2 AprilNews
Frasers Group to cut bosses’ salary to £40k amid April pay pledge
Mike Ashley’s Frasers Group has reportedly reduced the salary of its executive team to £40,000 and has pledged to pay all his staff up until the end of April. According to The Times, the executive team has taken a voluntary pay cut in a “show of support towards securing the…
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Mar- 2020 -20 MarchHigh Street
Frasers Group issues profit warning and drops FY20 guidance amid Covid-19
Mike Ashley’s Frasers Group has issued a profit warning after revealing its board expects Covid-19 to cause a “significant disruption” to its business. The retailer said the impact, including customer footfall, will likely mean the group “will not achieve” its previous guidance of 5-15% EBITDA growth for the year ending…
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18 MarchClothing & Shoes
Superdry to miss 2020 targets amid coronavirus outbreak
Embattled clothing retailer Superdry has said it expects its online sales to decline and to miss its 2020 targets amid “unpredictable challenges” caused by the coronavirus outbreak. Superdry reported a 25% decrease in footfall week-on-week despite stores in the UK and the US “remaining largely open”. Prior to the outbreak…
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12 MarchClothing & Shoes
Adidas and Puma Chinese sales hit by coronavirus outbreak
Sportswear retailer Adidas has warned sales in its first quarter of its financial year would decrease as much as €1bn (£870) in Greater China, amid the recent impact of the coronavirus. Adidas reported sales would be down by about €100m (£88m) in Japan and South Korea, which will result in…
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Jan- 2020 -23 JanuaryAnalysis
Asos bounces back from tricky period
Back in July last year Retail Sector reported that Asos was having problems. It had issued a profit warning, suggesting profits were likely to be about one-third of what was originally anticipated. It was an interesting moment in the retail world, because the narrative for the whole of the last…
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