Kingdom come: Burberry’s new fashion line helps profits meet expectations November 8, 2018 Burberry has welcomed a rise in profits in its half-year results following new creative director Riccardo Tisci's debut collection, titled 'Kingdom'. The figures Burberry total revenue declined three per cent year on year to £1.22bn in the 26 weeks to the end of September. But like-for-like store sales were up three per cent, spurred on by growth [...]
Winter is coming: Superdry looks to colder months after cautious first half November 8, 2018 Fresh from issuing a profit warning last month, British fashion group Superdry reiterated its weather woes this morning after saying that it had yet to see a sustained period of normal conditions, despite enjoying a second-quarter bump in sales. The FTSE 250 firm saw shares fall by over six per cent in early trading despite brand [...]
Halfords profits fall 23 per cent but sales rise in challenging environment November 8, 2018 Halfords profits dropped 23 per cent in the first half of the year as it launched a new strategy but sales rose amid a "challenging" environment. The figures Halfords reported a pre-tax profit of £28.2m for the six months to 28 September – a 23 per cent drop on the same period in 2017. Excluding [...]
Autotrader profits zoom ahead as advertising spend accelerates November 8, 2018 Autotrader stepped it up a gear in its half-year results today, with profits speeding ahead despite an industry-wide lull in car sales. The figures Revenue was up seven per cent year on year to £176.8m for the six months to the end of September, compared to £165m the same period the year before. Profit before [...]
Sainsbury’s sees rising sales despite ‘uncertain’ outlook November 8, 2018 Sainsbury’s posted growth in underlying profit for its half-year results today, despite highlighting an 'uncertain' outlook ahead of the Christmas spending period. The figures Like-for-like sales climbed 0.6 per cent year on year during the six months, rising from the 0.2 per cent growth it reported for the first quarter of the year. That helped revenue hit £16.8bn, up [...]
Food can’t save M&S as it posts weak results again November 8, 2018 High street bellwether Marks and Spencer issued another disappointing set of figures yesterday and warned that sales are unlikely to pick up any time soon. Shares closed down 0.5 per cent, having been over three per cent down earlier in the day. M&S warned of tough trading conditions due to fierce competition from online competitors [...]
Shareholders need to hear more than just contrition if they are to believe in the future of M&S November 8, 2018 Another day, another bleak set of results from a struggling high street retailer. This time it was the turn of M&S to take centre stage, reporting falling food and fashion sales and pledging to leave “no stone unturned” in its bid to restructure the business. Blighted by rising costs, more competition, and major changes in [...]
Shares dive at fashion house Michael Kors as sales miss expectations November 7, 2018 Michael Kors' shares plunged by 15 per cent today after the luxury fashion group missed Wall Street revenue estimates for the first time in almost two years. The owner of brands such as Jimmy Choo saw revenue come in flat year on year at $643.9m (£489.6m) as European store sales dropped 10 per cent in the three [...]
Adidas hikes profit forecast but lowers sales target November 7, 2018 German sportswear giant Adidas elevated its profit estimates today after a jump in sales in the third quarter, but screwed down its sales forecast, blaming lower than expected growth in western Europe. Shares fell two per cent on the news, as Adidas said full year revenues were likely to increase by only eight to nine per cent, falling [...]
John Lewis chairman announces departure after 99 per cent profit drop November 7, 2018 The chairman of John Lewis will step down in 2020 after the store has found his replacement. Sir Charlie Mayfield decided to leave just two months after blaming Brexit for a 99 per cent drop in half-year profits. The company said it has modernised its selection process, and the new chairman will be announced in the second half [...]