Asda’s turnaround efforts has continued to bear fruit after it reported its second consecutive quarter of like-for-like sales growth. The Big 4 grocer today posted like-for-like sales growth of 1.1 per cent for the 12 weeks ending September 30, while overall net sales climbed 3.6 per cent.
Ted Baker has seen growth across the board in its third quarter pushing through “challenging trading conditions” in some of its global markets. In the 13 weeks to November 11 the retailer saw a 7.3 per cent increase in group revenues and eight per cent on a constant currency basis.
Card Factory’s total sales grew by 6.7 per cent in the nine months to October 31, driven by its continuing store expansion scheme. The greeting cards retailer said a strong first half sales performance continued in the third quarter, driven mainly by growth in lower margin non-card categories.
Former Tesco boss and retail veteran Sir Terry Leahy has announced his departure from the role as chairman of the discount store chain B&M, as it reveals strong financial results.
The Co-op’s proposed £143 million acquisition of convenience grocery chain Nisa has just been given the green light by the latter’s members.
Fifty-five per cent of Chinese online shoppers purchase goods from the UK as goods are perceived to be “of premium quality”. Ahead of Alibaba’s Singles’ Day event this Saturday, which last year achieved $17.8 billion of sales in 24 hours, Royal Mail have released research suggesting the UK is in prime position to cash in on the event
83% of UK shoppers say loyalty depends on trust. Do your shoppers trust you?
Revenues have surged by almost a tenth at Bargain Booze parent company Conviviality, fuelled by rising sales across all of its business units. In a trading update for the 26 weeks ending October 29, Conviviality revealed unaudited total revenues went up 9.2 per cent to £836 million, compared to the £766 million recorded in the same period last year
Asda has hired Carrefour’s former chief merchandising officer Jesús Lorente for a similar role as the Big 4 grocer undergoes a leadership overhaul.
The co-founder and chief operating officer of online fashion retailer Finery has announced his resignation. Luca Marini said he is due to depart the business, which he co-launched with Nickyl Raithatha and Caren Downie in February 2015, at the end of this month. Less than three years after recording £5 million in sales in its first tear of trading, Finery now rakes in £16 million and operates in 10 countries