Retail sales growth slumps after bumper summer September 26, 2018 UK retail sales growth slumped slightly this month after a strong summer, according to the latest statistics. The Confederation of British Industry's (CBI) retail sales gauge fell to +23 in September from +29 in August. Read more: Online retail to be Next's summertime saviour as hot weather boosts sales Department store, footwear and leather, chemists [...]
Online-only retailers outpace their bricks and mortar rivals as fresh evidence of high street troubles emerge September 26, 2018 Online-only retailers’ sales have grown 24 times faster than those of bricks and mortar firms in the last five years, according to new data which underlines the current woes facing high street shops. A report out today from data specialist GBG Loqate shows that pure-play online retailers have grown their sales by 281 per [...]
UK mortgage approvals for new house purchases tumble despite growth in remortgaging September 26, 2018 The number of mortgages approved for house purchases was almost five per cent lower in August compared with the same time last year, providing fresh evidence of flat activity in London’s property market. Despite the fall in new mortgage approvals, remortgaging soared 9.2 per cent during the month, as a rising number of homeowners [...]
Boohoo in vogue after outlook raised September 26, 2018 Boohoo had an impressive six months as revenue and pre-tax profit jumped by 50 per cent and 22 per cent respectively. The group saw strong demand for their brands at home and abroad, as the UK registered a 43 per cent rise in sales and the international division posted a 62 per cent rise in revenue. The overseas [...]
Smiles all round as Boohoo’s rising revenue trumps City forecasts September 26, 2018 Online fashion retailer Boohoo bumped up its forecast for full-year sales growth this morning in the wake of better-than-expected revenues during the first half of 2018. The PrettyLittleThing.com owner’s revenue hit £395m in the first six months of the year, marking a sharp 50 per cent rise compared with the same period in 2017. [...]
Aldi and Lidl continue to attract customers – so what impact will Tesco’s budget chain Jack’s have? September 26, 2018 Recently Tesco unveiled its first Jack’s discount store. With a strong emphasis on Britishness and home-grown products, the brand is seen as a challenger to the German supermarkets, Aldi and Lidl. I have often talked in this column about the growth of both Aldi and Lidl, and YouGov BrandIndex data points to the continued improvements [...]
The story behind the steady rise of ethical homeware and why it’s the next frontier in sustainable shopping September 25, 2018 Did you know that the global fashion industry is on track to consume over a quarter of the world’s annual carbon allowance by 2050? Stella McCartney does and she’s been travelling the world with sailing wonderwoman Dame Ellen MacArthur shouting about it for the last couple of years now. Perhaps that’s why so many [...]
Michael Kors confirms $2bn Versace deal September 25, 2018 Michael Kors has acquired Italian luxury designer Versace for $2.12bn (£1.61bn), the US fashion brand confirmed today. Michael Kors Holdings will be renamed Capri Holdings, and Donatella Versace, sister of the late founder Gianni, will become a shareholder in the new company along with brother Santo Versace and daughter Allegra Versace. Read more: Fashion kingpin set to walk the runway with [...]
What’s Next? Questions remain over autumn results after retailer’s summer boost September 25, 2018 There’s been no shortage of negative headlines surrounding UK retail in recent weeks with the woes of the sector hitting some high profile names in recent months including House of Fraser, Moss Bros last week, and John Lewis surprising the markets in reporting huge drops in profits. Earlier this year Next warned that trading conditions [...]
Analysts warn of Debenhams ‘value trap’ day after launch of turnaround strategy September 25, 2018 Embattled department store chain Debenhams was hoping to ease investor cynicism after launching its new turnaround strategy yesterday, but it seems City analysts are yet to be impressed. Liberum said this morning that “a good store tour doesn’t change our view that this is a value trap”, reiterating its “sell” rating after the retailer [...]