Mountain Warehouse eyes store expansion as profits jump May 31, 2019 Outdoor clothing group Mountain Warehouse is eyeing an expansion on the high street this year after reporting today a double-digit rise in annual pre-tax profits and sales. The retailer, which currently runs 350 stores and employs 3,500 staff, is planning to open a further 50 stores this year, including roughly 20 in the UK, following [...]
Here’s why Boohoo shares are climbing higher May 2, 2019 | City Talk By Graeme Evans from interactive investor. Stock markets are struggling on boohoo's results day, but the retailer is defying the gloom. Fast fashion is back in vogue on the London market, with well-received results from Boohoo adding to euphoria over a spectacular 2019 for shares in AIM-listed rival ASOS (LSE:ASC). Their recent turnaround follows an [...]
Primark profits soar but owner ABF blames poor sugar performance for fall in profits April 24, 2019 Primark delivered an “excellent” 25 per cent profit growth in the six months to March even as owner Associated British Foods (ABF) saw overall income shrink. Read more: A look inside the world's largest Primark The figures ABF witnessed a huge 15 per cent year-on-year drop in statutory profit before tax to £515m after paying a [...]
Primark unveils its largest ever store with Disney cafe, barber shop and Wizard World April 11, 2019 The world’s biggest Primark opened its doors to customers for the first time this morning. Featuring a Disney-themed cafe, Hogwarts Wizarding World and barber shop, the new outlet spans 160,000 ft across five floors. A Disney-themed cafe is part of the new Primark store It is the latest sign of the budget retailer’s expansion, which [...]
Primark boosts revenue with new store openings but warns on like-for-like sales drop February 25, 2019 Primark said today it expects half-year sales to grow four per cent compared to last year, driven by new store openings, but the budget fashion retailer will post a two per cent drop in like-for-like sales. In the UK sales were up two per cent, while Eurozone sales jumped five per cent with strong growth in Spain, France, Italy and Belgium. However, [...]
Shopping centre landlord Intu swings to a loss after swallowing £1.4bn hit to property values February 20, 2019 Embattled shopping centre landlord Intu moved into the red last year, as more than £1.4bn was wiped off the value of its property following a swathe of retail challenges. Shares in the group dived almost 10 per cent in early morning trading. The figures Losses at the FTSE 250 firm, which suffered two failed takeover bids [...]
MPs urge government to slap penny tax on new clothes in bid to cut fashion industry waste February 19, 2019 An influential group of MPs has called for a 1p tax on new clothes in a bid to tackle consumer waste within the fashion industry. The penny tax, which would be levied on every new item of clothing sold by Britain’s retailers, has been proposed this morning by the cross-party Environmental Audit Committee to raise [...]
Human bone discovered in socks from Primark January 25, 2019 Police are probing what is believed to be the discovery of a human bone in a pair of Primark socks. Officers from Essex Police are liasing with the retailer after it said socks bought from a Primark store in Colchester were reported to the force on 2 January. A police spokesman said: "Detectives are continuing [...]
Primark sales sweeten the pill as retailer outperforms Christmas gloom January 17, 2019 Primark today reported a rise in revenues over the festive period as store expansion outweighed a fall in like-for-like sales. The fashion retailer saw UK sales rise one per cent on last year in the 16 weeks to 5 January, defying a downturn in the wider retail market. Read more: Retail sector suffers worst Christmas in [...]
City focuses on Boohoo as online giant hopes to defy retail gloom January 13, 2019 Online fashion giant Boohoo looks set to defy the gloom hanging over Britain’s retail industry later this week when it is expected to post another quarter of sharp sales growth. The City will be turning its attention towards the e-commer giant to see whether its festive fortunes were enough to buck a current trend of dismal [...]