Till sales surge as retailers boosted by sunny September and back to school deals September 19, 2023 A bout of unusually hot weather in early September helped hike grocery sales at UK supermarkets, with total till sales surging 10.3 per cent in the last four weeks ending 9 September. According to data from NIQ, the figure rose up from 7.2 per cent during the wet July and early August, which deterred shoppers [...]
Kingfisher: Profit warning at B&Q owner as economy bites September 19, 2023 Kingfisher: Profit warning at B&Q owner as economy bites
Naked Wines: Chair apologises after economy corks revenues September 19, 2023 In a letter to shareholders, the chairman of Naked Wines apologised after the online booze supplier reported disappointing full year results. In a trading update the British wine supplier said new customer investment dropped by 48 per cent, while repeat customer contribution stayed roughly flat. Shares dropped ten per cent on Tuesday morning. New sales [...]
Tui: Wildfires hold back growth but travel demand continues to soar September 19, 2023 The post-Covid recovery of summer holidays helped push Tui towards its targets for the 2023 financial year.
Ocado: Signs of progress at last as firm looks to continue share price turnaround September 19, 2023 Upmarket grocer Ocado has reported a 7.2 per cent surge in revenues to £569.6m in the third quarter as turnaround plans under the guidance of its year old chief executive appear to show signs of paying off. The digital supermarket, which operates as a joint venture with M&S, said the average orders per week at [...]
Missguided sale marks a pivot in Frasers’ strategy – but a Shein deal has risks attached September 18, 2023 News that Frasers could sell Missguided to Shein potentially marks a change in strategy for the Sports Direct owner, which has been highly acquisitive in recent years.
Mike Ashley’s Frasers in talks to offload Missguided to Chinese fast fashion giant Shein September 18, 2023 Mike Ashley’s Frasers Group is reportedly in talks to offload its online clothing brand Missguided to Chinese fast fashion giant Shein. Frasers, which owns the high street favourites such as Sports Direct and Jack Wills, bought Missguided for £20m last year after it collapsed into administration. As part of the rescue deal, the Manchester business kept [...]
Frasers: Chief calls for reform of ‘outdated’ business rates regime September 18, 2023 The boss of Frasers Group, Michael Murray, has described the business rates regime as a “disaster” and urged the government to overhaul the system.
Ocado looks to settle City jitters over sluggish demand September 17, 2023 Retail tech group Ocado is looking to settle jitters over sluggish demand from shoppers this week as it updates the City after following a bruising nine months.
Next: Can the retail powerhouse continue its strong summer momentum? September 17, 2023 Next has continued to defy expectations, with the retail giant continuing to outperform rivals
