Flat pack expansion: Ikea to reach 3bn people by middle of next decade October 10, 2018 Ikea will reach almost half the world’s population by 2025 as it branches into South America and eleven other markets in the coming year. The furniture giant, which grew retail sales by 4.5 per cent in the financial year ending August, said it would open stores in Estonia, Ukraine, Puerto Rico, Oman, Luxembourg, Macau and [...]
FCUK must reconnect with British shoppers in a saturated market October 10, 2018 On Monday, news emerged regarding high-street retailer French Connection. The brand announced that it may be up for sale, prompting shares in the fashion chain to rise 25 per cent to 55p. Following on from speculation last weekend, the firm said it was “reviewing all strategic options” – one of which is a sale. French [...]
Baking: Greggs blames sweltering summer for dip in sales growth October 9, 2018 Sales at on-the-go food retailer Greggs crumbled under the sweltering heat of 2018's long hot summer, but a trading update today showed top brass remain unfazed, with its share price up five per cent. The figures In the three months to 29 September 2018, total sales at Greggs rose 7.3 per cent, compared with 8.6 per cent in [...]
Retailers hit as spending drops to its lowest level in a year, and Christmas may not be the saviour October 9, 2018 UK retail sales grew by their lowest rate for almost a year in September, new figures show. An analysis from KPMG and the British Retail Consortium found like-for-like retail sales were down 0.2 per cent, while total sales increased 0.7 per cent. This is far below the 1.3 per cent average over the past 12 [...]
Matalan posts slow growth, facing challenges from weak pound and volatile markets October 8, 2018 Matalan grew revenues by one per cent in its second quarter, while full price sales increased 3.3 per cent as the discount retailer faced challenges from a weak pound, and a “volatile and challenging market.” Its latest results show Matalan boosted revenue to £262.4m, up £2.5m year on year. Online growth was healthier, increasing 25 [...]
H&M takes a $20m stake in fintech startup Klarna October 8, 2018 Swedish fintech startup Klarna has today announced a global partnership with fashion powerhouse H&M, which included a $20m (£15.3m) investment in the business. The deal will see Klarna integrate its digital payments technology into H&M's physical and online stores via its payment programme H&M Club1. Klarna allows shoppers to pay securely for products online with flexible payment options [...]
Flying high: Angling Direct hooks in revenues as physical stores prove to be a big catch October 8, 2018 Angling Direct reeled in a sharp rise in turnover over the first half of 2018, amid burgeoning sales that were bolstered by European expansion and UK store growth. The group today posted a 55 per cent rise in revenue in the first six months of the year, jumping to £21.9m, on the back of a [...]
Harrods to increase in-store investment after customers spent £2.1bn last year October 8, 2018 Harrods will increase investment in luxury boutiques at its Knightsbridge store after defying the retail environment with a 9 per cent profit rise. The luxury department store posted profits after tax of £176.7m, up nearly 9 per cent on the previous year's £162.5m. More than £2.1bn was spent at Harrods in the year ending 3 [...]
French Connection shares rocket as retailer looks for a buyer October 8, 2018 Shares in French Connection were up a huge 32 per cent in early morning trading on the back of news that the brand is up for sale. The clothing retailer yesterday confirmed that it is looking to sell, with founder Stephen Marks hoping to offload his 42 per cent stake. Read more: French Connection founder [...]
French Connection founder Stephen Marks could sell 42 per cent stake, company confirms October 8, 2018 The founder of French Connection is looking to sell, 46 years after creating the fashion brand, the company has confirmed. Stephen Marks is looking to offload his 42 per cent shareholding and has started approaching potential buyers. The company said it is “currently reviewing all strategic options in order to deliver maximum value for its [...]