Aldi throws £1.4bn into expansion as discount grocer enjoys record sales Aldi German discounter Aldi will invest £1.4bn over two years to support its expansion plans, as customers seeking out cheaper groceries continues to be a boon for the business. The value supermarket revealed today that its annual sales increased by a whopping £2bn to £15.5bn in the year to December, a record for the store in [...]
Asos: All eyes on pandemic poster child’s turnaround results Retail Investors will turn their focus to online retailer Asos’s trading update on Tuesday to see if the digital fashion store has shown signs of a rebound, following its ongoing turnaround plan and bid to pick up the pieces after a post-pandemic lull. Asos was once the poster child of pandemic success, at its height buying [...]
Retailers put all their chips on inflation cooling during golden Christmas run-up Retail A better than expected inflation reading, and growing consumer confidence and sales, have offered a glimmer of hope for the UK’s retail sector, as they turn their focus to the vital Christmas trading months. According to today’s ONS figures, retail sales volumes rose by 0.4 per cent in August 2023, partially recovering from a fall [...]
Mike Ashley’s Frasers Group drags Morgan Stanley boss to court seeking £50m in damages September 22, 2023 Mike Ashley’s Frasers Group has dragged the chief executive of Morgan Stanley into a UK legal battle over a $1bn (£814m) margin call regarding Hugo Boss trade. In a New York court filing lodged earlier this week, seen by The Telegraph, the retail group asked the court to make James Gorden hand over documents and [...]
Retail sales show signs of recovery after summer washout September 22, 2023 Retail sales volumes rose by 0.4 per cent in August 2023, partially recovering from a fall of 1.1 per cent in July 2023, new government figures show. Non-food stores sales volumes grew by 0.6 per cent in August 2023, following a fall of 1.2 per cent in July 2023 when unseasonable rainy weather drove shoppers [...]
High street struggles: 2,000 local stores, pubs and hairdressers wiped away this year September 21, 2023 Nearly 2,000 independent local stores were left vacant in the first half of this year, as the cost of living crisis continues to eat away at the health of the high street and small businesses. Some 1,915 independent businesses on high streets, retail parks and shopping centres closed in the first leg of this year, marking [...]
Co-op invests £70m into fresh price cuts for as losses narrow September 21, 2023 The Co-op has invested a further £70m investment into lowering pricing for customers as its losses narrowed after the sale of its forecourts business to Asda. The retailer pumped £20m into price cuts in the first half year and said it now has plans for a further £70m investment, which includes 200 reductions for users [...]
DFS profits halved as sofa maker is battered by ‘tough economic climate’ September 21, 2023 Sofa seller DFS saw annual profits almost cut in half, sliding to £29.7m from £58.5m a year earlier, as the retailer was battered by economic conditions. Revenue from operations fell 5.3 per cent to £1.09bn in the year to June 25, with the group blaming soaring inflation. Chief executive Tim Stacey said that the company [...]
JD Sports’ sales hit £4.7bn as trainers king ramps up athleisure drive September 21, 2023 JD Sports said revenues grew 8.3 per cent to £4.7bn in the six months to the end of July, as the trainers champion continues to plough ahead with its athleisure expansion plans. The shoe and sportswear stores reported a 25.8 per cent growth in statutory profit before tax to £375m and operating profit grew 20.2 [...]
Next does it again: Profit guidance raised at retail miracle-maker September 21, 2023 Next has raised its full year profit guidance for the third time this year despite well-publicised pressures on the high street
