Tag : trading updates
John Lewis announced this morning that all its staff will receive a bonus of 10% of their annual salary, despite profits at the department store chain slipping 10.9% to £305.5m.
Footwear sector hopes trade steps up in springSubscription
Retailers and suppliers across the footwear industry are hoping for brighter weather to kickstart spring sales following a particularly tough end to the winter season.
Multiples and department stores continued to face a tough retail environment in February, citing cold weather, uncertainty over Brexit and fragile stock markets as factors that stifled trade.
Kate Spade sales rise 9.1%Subscription
US accessories brand Kate Spade reported net sales for the year to January 2 rose 9.1% to $1.2bn (£860m), while adjusted EBITDA was £203m.
Gap outlook for 2016 weakens as sales fall 7% Subscription
Profit and sales at Gap took a tumble in the fourth quarter of its financial year, as the troubled clothing chain offered a weaker than expected outlook for 2016.
TK Maxx owner posts sales and profit riseSubscription
TJX Europe, the parent company of off-price chain TK Maxx, increased net sales by 13% to $4.64bn (£3.31bn) excluding the impact of currency exchange, while profit was up 3% to $335m (£239bn) for the year to January 30.
German womenswear brand Gerry Weber has said it will return to profit growth in 18 to 24 months following a realignment of the group.
Sales at Primark have recovered after a “difficult” Christmas trading period thanks to tighter buying and the popularity of transitional pieces, John Bason, finance director of its parent company, Associated British Foods, said this week.
Retailers hail positive start to yearSubscription
Fashion retailers enjoyed an “encouraging” start to the year as the January Sales prompted shoppers to stock up on winter clothing, but warned a return to full price and the introduction of spring lines will be the true test of the market over the coming weeks.
High street fashion sales bounced back in January, posting a year-on-year rise of 1.9%, BDO’s monthly tracker shows.