Russia
This coverage examines the activities, strategies, and challenges of retailers operating in or withdrawing from the Russian market, with a focus on commercial and operational impact. Reporting includes corporate decisions regarding market presence, supply chain adjustments, leadership statements, and financial implications — providing retail professionals with context on how geopolitical factors influence retail operations and strategy in the UK.
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May- 2023 -11 MayNews
Adidas revenues remain flat in Q1
Apparel company Adidas reported flat currency-neutral revenues in Q1 compared to the same period last year. Currency-neutral sales in North America declined 20% to €1.1bn (£959m) during the quarter as the region is particularly affected by the discontinuation of the Yeezy business. Instead, sales in EMEA grew 4% to €1.9bn…
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Apr- 2023 -14 AprilClothing & Shoes
Uniqlo owner sees profits rise 16% to £1.3bn
Uniqlo owner Fast retailing has recorded a 16% rise in operating profit to ¥220bn (£1.3bn) during the first six months of the year to 28 February. Fast Retailing said that the business recovery in China and strong sales in Europe and North America was the primary driver and helped revenues…
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3 AprilClothing & Shoes
Esprit posts HK$664m FY22 loss
Esprit has reported a loss of HK$664m (£68.4m) as its 2022 revenues decreased to $7.1m (£856m), marking a 15% decline over 2021, according to its results for the period ending 31 December 2022. It said that “the unfavourable economic environment” in Germany and the rest of Europe resulted in a…
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Mar- 2023 -30 MarchClothing & Shoes
H&M Q1 profit boosted by second-hand Sellpy platform
H&M has seen operating profit hit SEK 725m (£56.4m) in its first quarter of trading, up from SEK 458m (£35.6m) the prior year, boosted by the earnings of second-hand platform Sellpy. Sellpy, which is one of Europe’s largest second-hand platforms, has been consolidated into the group in the first quarter,…
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15 MarchClothing & Shoes
H&M Q1 net sales up 12%
H&M has announced that its net sales for the period between 1 December 2022 and 28 February 2023 rose 12% to SEK 5.4bn (£423.7m), compared with last year. In local currencies its net sales increased by 3% and excluding Russia, Belarus and Ukraine the increase was 16%in SEK and 7%…
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10 MarchClothing & Shoes
Mango welcomes record turnover of €2.7bn in FY22
Mango has welcomed record sales in 2022, with turnover reaching €2.7bn (£2.4bn), the highest in the company’s history and 20.3% higher than the prior year. This was also 13.2% higher than 2019, when the company last achieved a record turnover. As well as a major growth in sales the group…
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8 MarchComment
Data is the perfect conversation starter for retailers – check out Tesco for proof
Improving online and in-store integration is a priority for many omnichannel retailers in 2023. Tesco, for instance, has seen huge success by making its Tesco Pay + app integral to improving the customer in-store experience. The app allows customers to pay with their phones and collect Clubcard points, and has…
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Feb- 2023 -22 FebruaryGovernment
Fortnum & Mason chief urges Sunak to seal NI trade deal
Fortnum and Mason chief executive Tom Athron has reportedly urged Sunak to seal a deal with Brussels on post-Brexit trade rules for Northern Ireland. He told the Financial Times that the British government needed to “invest some time improving its relationship with the EU”, and agree post-Brexit trade rules for…
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Jan- 2023 -27 JanuaryClothing & Shoes
H&M net sales increase 12%
H&M has announced that its net sales for FY22 increased 12% to SEK 223bn (£176bn) for the year ended 30 November 2022. The increase was 6% in local currencies. Excluding Russia, Belarus and Ukraine the increase was 15% in SEK and 8% in local currencies. Results for the year were…
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26 JanuaryClothing & Shoes
Levi’s profits fall 9% despite surge in revenues
Levi’s has revealed its gross profit fell 9% to $887m (£716m) for the year 27 November 2022. However, it also reported a 7% year on year increase in revenue to $6.2bn (£5bn) (12% on a constant-currency basis). Net revenue of $1.6bn (£1.29bn) in the fourth quarter represented a 6% year-on-year…
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