The owner of the world’s largest fashion retailer Zara saw its stock price plummet by more than seven per cent last week after analysts dropped its target share prices for the year. Ahead of Inditex’s full year results set to be released on March 14, JP Morgan announced that it was dropping its target for the year from €38 per share €35.5 per share, driving stocks down to a three-year low.
Convenience store chain McColl’s has surpassed £1 billion in full year sales for the first time and has laid out plans to continue expansion throughout 2018.
Convenience store chain McColl’s has surpassed £1 billion in full year sales for the first time and has laid out plans to continue expansion throughout 2018. In the full year to November 26, the retailer posted annual revenue of £1.1 billion, up from £950 million a year prior. Like-for-like sales over the period edged also up 0.1 per cent, while profits rose 3.9 per cent to £18.4 million
Canadian fashion brand Canada Goose has reported soaring revenues in its third quarter, rising nearly a third. For the quarter to December 31, total revenues at the retailer rose 27.2 per cent to $265.8 million (£192.3 million) while gross profits rose 40.8 per cent to $169 million (£122.2 million). Total gross profits accounted for 63.6 per cent of total revenue, up from 57.7 per cent a year prior
Technology retailer Dixons Carphone is expected to report slowing sales amid its Christmas trading report next week. Analysts have predicted that sales for the 10 weeks to January 6 will drop to two per cent growth. This is one per cent less than the previous quarter, and less than half of the sales growth seen in the same period a year prior.
Inflation throughout December eased slightly, offering hope that analysts’ predictions that inflation has peaked are correct. Following a six-year high of 3.1 per cent in November, the Office for National Statistics (ONS) has revealed that inflation dropped to three per cent last month. This will come as good news to consumers, who have seen stagnant wage growth alongside soaring inflation, leading to a sharp decline in spending power.
Gear4Music recorded hit all the right notes in its third fiscal quarter, which included the key Christmas trading period, driven by strong international demand. Total sales at the musical equipment retailer jumped 42 per cent to £34.6 million in the four months to December 31, compared to £24.4 million recorded in the same period a year prior.
Embattled toy retailer Toys R Us has released details of the 26 stores it has proposed to close next spring. Last week, Toys R Us UK proposed a Company Voluntary Arrangement (CVA) in an effort to reorganise its finances and prevent falling into full blown collapse
Online luxury fashion retailer Farfetch saw losses widen by 27 per cent during 2016, despite revenues nearly doubling. Last year Farfetch’s revenues rose from 73 per cent to £151.3 million, while its gross merchandise value hit £548 million, rising from £302 million a year prior.
Retail sales throughout October were dragged down by the worst non-food sales performance on record, despite food sales continuing to benefit from inflation. According to the latest BRC-KPMG Retail Sales Monitor, sales in the four weeks to October 28 dropped one per cent compared to a 1.7 per cent increase a year prior.