A combination of warm, sunny weather and World Cup fever has allowed online retail sales to continue its strong growth throughout June, with sales up 16.9 per cent year-on-year. Last month’s growth also meant that online retail sales have been on the up for the whole first half of 2018.
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.
Asos has racked up another double-digit jump in sales, but warned that its full-year growth would be just short of market forecasts. Group revenues at the online fashion giant grew 22 per cent to £823.9 million in the four months to June 30
The World Cup has inspired Brits to open their wallets and spend, with total retail sales in June rising 2.3 per cent.
Nike has returned to growth reporting a double-digit rise in revenues during its fourth quarter thanks to strong international sales. The fourth quarter saw Nike’s revenues rise 13 per cent to $9.8 billion (£7.45 million), comfortably above analysts’ expectations of $9.4 billion (£7.15 million)
Retailers enjoyed the fastest sales growth in nearly a year last month thanks to the positive impact of the hotter weather. According to the Confederation of British Industry’s (CBI) monthly survey, 43 per cent of respondents saw sales volumes rise in the year to June. This marked the fastest sales growth since September last year, with just 10 per cent saying they saw sales decline, making a balance of 32 per cent.
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.
Shoppers are calling for more shops and services on the high street with a majority of them feeling pessimistic about the future of their local shopping district. According to new government research into shopper and retailer sentiment ahead of the Great British High Street Awards 2018, found that 21 per cent of shoppers said there wasn’t enough shops and services on their high street to meet their needs
Retailers could soon be faced with a “returns tsunami” thanks to the emergence of new try-before-you-buy schemes for online consumers. With returns already costing UK retailers £60 billion a year, a new report released today highlights the hidden dangers of online and multichannel retailers introducing try-now-pay-later options for customers
Sportswear giant Adidas has reported double-digit growth across all regions over the last year, encouraging the brand to upgrade its profitability targets. Net sales for the retailer rose 14.8 per cent to €21.2 billion (£18.8 billion) while gross profits rose 17.6 per cent to €10.1 billion (£8.96 billion).