Q2 2022
This coverage reviews key retail developments and performance indicators from Q2 2022, with insights aimed at UK retail executives, managers, and brand professionals. Reporting includes quarterly financial results, store openings and closures, leadership changes, strategic initiatives, and emerging consumer trends that shaped the sector during this period. The analysis helps professionals evaluate market conditions, competitive movements, and operational challenges from the quarter.
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Aug- 2023 -23 AugustNews
Urban Outfitters owner sees income rise 75% in Q2
Urban Outfitters Inc, the owner of Urban Outfitters, has reported a net income of $104.1m (£82m) for the three months ended in July 2023, a 75% increase compared to the $59.4m (£46.8m) reported in Q2 2022. Total company net sales for the last three months increased 7.5% to a record…
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18 AugustClothing & Shoes
Farfetch profits and sales drop as its brand platform suffers
Farfetch has revealed its revenues decreased to $572.1m (£450.1m) from $579.3m (£455.7m) during Q2 2023, representing a year-over-year decrease of 1.3%, according to its trading update for the second quarter ending June 2023. The group said that the decline was primarily driven by a 42.2% decrease in Brand Platform Revenue…
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Jul- 2023 -13 JulyOnline & Digital
MusicMagpie sees EBITDA rise 7.7% in H1
MusicMagpie has reported adjusted EBITDA of £2.8m, up 7.7% in H1 2023 compared with £2.6m in H1 2022, according to its interim results for the six months ended 31 May 2023. It also stated that following a challenging start to H1, with postal strikes and low consumer confidence impacting December…
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10 JulyNews
Levi’s revenues dip 9% in Q2
Levi Strauss and Co recently reported a 9% revenue decrease to $1.3bn (£1bn) for the period ended in May 2023. Wholesale net revenues decreased 22% on reported and constant-currency bases as strong growth in Asia and Latin America was offset by declines in North America and Europe. In the American…
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Oct- 2022 -28 OctoberHigh Street
Store vacancy rate falls but remains below pre-pandemic levels
In the third quarter of 2022, the overall GB vacancy rate decreased to 13.9%, a 0.1% rise from Q2 and 0.6% better than the same period last year, according to the latest monitor from the BRC and Local Data Company. This was the fourth consecutive quarter of falling vacancy rates.…
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Sep- 2022 -5 SeptemberEconomy
UK retail sector M&A deals increase 21% on last year
The number of M&A deals targeting UK retailers has increased by 21% in the last year, up from 28 transactions to 34 in the last 12 months, as deals in the sector “buck the overall slowdown in M&A”, according to RPC, the international law firm. Overall, UK M&A activity has…
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2 SeptemberSupermarkets
EG Group profits hit by cost-of-living crisis in Q2
The Issa brothers-owned EG Group has seen its profits slump in Q2, as earnings fell by 6.5% to $355m (£307m) year-on-year amid “ongoing inflationary and cost of living pressures on customer behaviour”. Despite this, total revenues were up by 18.4% to $7.9bn (£6.8bn) on a like-by-like basis. The uptick in…
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Aug- 2022 -30 AugustClothing & Shoes
Farfetch revenues increase 10.7% in Q2
Online luxury fashion retail platform, Farfetch, has announced that the group’s revenue increased by 10.7% year-over-year in Q2 to $579.3m (£493.1m). The group’s profit after tax also reached $67.7m (£57.6m) in the period, which included a non-cash benefit arising from impact of lower share price on items held at fair…
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26 AugustSupermarkets
Asda sees Q2 sales improve but remain down on 2021
Asda has revealed that it saw like-for-like sales in Q2 2022 ending June 30 fall by 1.9% year-on-year compared to the same period last year. The performance represents an improvement on the 9.2% decline in like for like sales during the previous quarter of this year. The supermarket delivered positive…
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12 AugustEconomy
UK economy contracts 0.1% in second quarter
The UK economy contracted by 0.1% in the second quarter of the year (Apr to June) 2022, according to the latest estimate from the Office for National Statistics (ONS). On a monthly basis GDP is estimated to have fallen by 0.6% in June 2022, following an increase of 0.4% in…
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