Quiz Christmas sales drop after bumper Black Friday January 15, 2020 Fast fashion brand Quiz reported a “disappointing” drop in sales over the crucial Christmas trading period, as both online and in-store revenue declined despite a strong Black Friday performance. The retailer’s share price plunged 13.61 per cent this morning after it revealed that group revenue plunged 9.3 per cent, dragged down by a 14.8 per [...]
Boohoo hikes guidance after ‘record’ quarter January 14, 2020 Boohoo raised its full-year guidance this morning as it reported record trading during the final quarter of last year. The online fashion retailer’s shares jumped more than five per cent after it announced group revenue in the four months to 31 December was £473.7m, an increase of 44 per cent compared to the same period [...]
Superdry’s share price decline continues after profit warning January 13, 2020 Superdry’s share price continued to dive today after the embattled retailer issued a profit warning last week following weak sales over the crucial Christmas trading period. The fashion chain’s shares dropped more than eight per cent this morning to 401.2p, before recovering slightly in the afternoon to 412p. Read more: Superdry shares plunge as it [...]
Joules shares plummet on profit warning January 10, 2020 Fashion retailer Joules warned profits will fall below expectations today after a challenging Christmas period, triggering a plunge in its shares. The company expects annual pre-tax profits to be “significantly” lower than a forecast £16.7m due to supply chain issues. Read more: Superdry warns profits could hit zero months after Dunkerton’s triumphant return Joules saw [...]
Superdry shares plunge as it warns profit could hit zero January 10, 2020 Superdry witnesses its stock plummet in early trading today after issuing a dramatic profit warning on the back of underwhelming sales over its peak Christmas trading period. The fashion retailer now expects underlying profit before tax to range up to £10m, but warned it could vanish altogether after booking “lower than anticipated” retail sales of [...]
Marks & Spencer shares slip as clothing underperformance weighs on Christmas trading January 9, 2020 Marks & Spencer’s Christmas performance was weakened by poor sales in its menswear business, after the retailer ordered too many skinny jeans in the wrong sizes. The high street chain said it over ordered skinny and slim-fit mens’ trousers, under-bought regular fit jeans and had too many small sizes and not enough medium and large. [...]
Dunelm boosts sales despite shunning Black Friday January 9, 2020 Homeware brand Dunelm reported a jump in sales in the run-up to Christmas despite deciding not to take part in Black Friday discounting. Like-for-like sales increased five per cent in the second quarter while total growth, including the benefit of new stores, was 6.2 per cent following the launch of its new digital platform. Read [...]
John Lewis issues profit warning as MD steps down January 9, 2020 John Lewis & Partners issued a profit warning today and said its managing director will leave the struggling business next month after underwhelming Christmas sales. The retail partnership warned full-year profits will be “substantially down” on last year as it revealed significant drops in both John Lewis and Waitrose revenue. Read more: Four problems new [...]
‘Worst year on record’ for retailers in 2019 January 9, 2020 Last year was the worst 12 months on record for UK retailers, as overall annual sales dipped for the first time since 1995, according to the latest data. Total sales in 2019 fell 0.1 per cent, marking the worst year for retailers since records began 25 years ago, due to a year of political uncertainty [...]
Sainsbury’s Christmas sales slip despite online boost January 8, 2020 Sainsbury’s suffered the biggest drop in Christmas sales of general merchandise since it bought Argos in 2016, as consumer demand for toys and games weakened. General merchandise sales, which includes Argos, dropped 3.9 per cent in the 15 weeks to 4 January, driving a 0.7 per cent decline in total retail sales excluding fuel. However, [...]