Asos bosses snap up cheap shares after day of horror for fashion sector December 18, 2018 Asos boss Nick Beighton and chairman Adam Crozier have snapped up thousands of shares in the company in a show of confidence following the retailer’s profit warning. The two executives each bought shares worth roughly £100,000 this morning after the company saw £1.3bn wiped off its value in a disastrous day of trading. Beighton and [...]
John Lewis defies retail troubles as it reports festive sales rebound December 18, 2018 John Lewis has bucked the downward retail trend, reporting a rebound in sales last week as it matches rival pre-Christmas promotions. The department store said total sales for the week to 15 December were up 1.8 per cent compared to the same period last year. The employee-owned company said the sales boost was due to [...]
Angling Direct sales jump 32 per cent after bumper Black Friday December 18, 2018 Fishing specialist Angling Direct saw its sales soar in the four months to the end of November as customers rose to the bait of its Black Friday offers. Angling Direct reported a 31.5 per cent increase in sales to £14.6m, boosted by a 24 per cent rise in online sales and record Black Friday trading. [...]
DEBATE: Is the Asos profit warning a sign that online retailers face the same challenges as the high street? December 18, 2018 Is the Asos profit warning a sign that online retailers face the same challenges as the high street? Scott Guthrie, a digital strategy consultant, says YES. Online retailers have previously appeared immune to the hardships faced by their high street rivals. Yet there are many marketplace similarities between the two opposing business models – especially in [...]
H&M shares tumble as sector uncertainty outweighs sales growth December 17, 2018 H&M today reported a rise in sales in the three months to the end of November, but saw its shares tumble amid doubts about the company’s recovery. The Swedish fashion brand said sales rose 12 per cent year-on-year to 56.4bn Swedish krona (£4.9bn). But the positive trading update did little to prevent a fall in [...]
A-SOS call: Four factors to blame for star online retailer’s shock profit warning December 17, 2018 Online fashion darling Asos' shares fell to their lowest since February 2016 this morning after a shock profit warning. Chief executive Nick Beighton said he's "astonished by an unprecedented level of discounting, something I've not seen before". At the time of writing, Asos was down more than 41 per cent to 2,439p. Here are four factors that led to Asos' [...]
Asos shares nosedive after it warns on bleak pre-Christmas trading December 17, 2018 Shares in Asos fell more than 35 per cent this morning after it warned of a “significant deterioration” in its pre-Christmas trading. The online retailer reported sales growth of 14 per cent in the three months to the end of November. But the company said it had seen the “weakest growth in online clothing sales [...]
Clipper Logistics delivers double-digit growth on back of new contracts December 6, 2018 Clipper Logistics struck an upbeat tone this morning after posting double-digit growth in the six months to October, having secured a number of major contracts amid the continued rise in demand for click-and-collect services. The figures In the six months to the end of October group revenue reached £227.9m, climbing 14.1 per cent when compared with [...]
Thousands of stores fall off high street as retail woes worsen November 9, 2018 Fresh evidence of the retail woes facing Britain’s shopkeepers emerged this morning, with more than 2,500 stores vanishing from the high street over the first six months of this year. Some 14 stores have closed every day in the first half of 2018, as stiffer competition and higher costs make the retail struggle for survival [...]
Boohoo shares soar as sales nearly double after “exceptional performance” from PrettyLittleThing November 6, 2018 There may be ongoing high street pain for a number of retailers, but online troubles are few and far between for fashion chain Boohoo. It hailed "an exceptional performance" from PrettyLittleThing, which it has been integrating into the Boohoo group, while its acquisition of US fashion label Nasty Gal exceeded estimates in its first year. [...]