AO World has reported an eight per cent jump in UK sales, which reflected a strong start to its year in April and May although weaker demand hit its performance in June. In a first quarter trading update to be delivered ahead of today’s AGM, the online domestic appliances retailer said it remained “on track to deliver its long-term strategic plan and the Board’s expectations for the full year remain unchanged”
Asos has seen its share prices jump after Goldman Sachs upgraded its rating and predicted higher revenues than previously forecast. The online retail giant’s share prices have jumped 6.2 per cent since yesterday morning, when Goldman Sachs raised its rating from “neutral” to “buy”. In a note to clients the US investment bank announced that they expected to see Asos’ full year sales jump 24 per cent coming in at the high end of Asos’ own guidance.
Wells Fargo analysts downgraded the athletic brand's stock as sales in Europe have declined and it faces surging competition, including in North America.
Ocado has seen its share prices skyrocket thanks to recent tie-ups, despite expectations it will reveal a drop in earnings next week. Analysts have predicted that the online grocer will report sales growth of 11.7 per cent for its first quarter on Tuesday, down from 11.6 per cent three months prior, while half year earnings are expected to drop from £45 million to £43.5 million
Retailers are getting better at staying up to speed with the demands of savvy consumers whose expectations are increasing in today’s digital economy – but this doesn’t mean they can afford to be complacent. Innovation is key to success and will always be required.
Westfield London’s £600 million expansion is expected to attract record numbers of international visitors throughout the summer as it unveils the next stage of the development. The West London-based shopping centre, which opened the first phase of its 740,000sq ft in March, is due to launch both a new Japanese food hall and an outdoor events space in the coming months. On July 10 it will launch Ichiba, Europe’s biggest Japanese food hall including food, drink, homewares and gifts from Japan.
Foot Locker has opened its largest store in Europe with new a flagship store in the Liverpool One shopping centre. The footwear retailer launched its new 21,000sq ft, two-storey store amid a flurry of events designed to create a “platform for the city’s many creative talents”. It partnered with local artist Stephen Chan, created a bespoke piece of artwork for the store which is installed at the front of the store
Guess turned in a better-than-expected fourth quarter performance fueled by strong demand in Asia and Europe.
Walmart chief executive and president Doug McMillon raised eyebrows at the National Retail Federation’s (NRF) Big Show conference in January when he referred to the US grocer, on stage, as a “technology company”.
Furniture and interior design retailer Made has hired Adrian Evans as its new chief financial officer while announcing it has commitments for £40 million of equity funding. Evans joins from the Yoox Net-A-Porter (YNAP) Group where he worked for over 10 years in various senior management roles including commercial director, finance director and strategy director.