WHSmith expects its full-year results will be in line with expectations, boosted by continued “strong” performance in its travel arm, while its high street business continues to make cost savings. In a pre-close trading update released today for the fiscal year ending August 31, the books and stationery retailer reported good sales across all channels while its new store opening programme in the UK and internationally was in line with its plans. WHSmith said its travel business — shops located in train stations and airports — was spurred on by further international openings, including its first three stores in Italy – in Rome’s Fiumicino and Ciampino airports, and one in Turin airport
Value retailer The Works is planning to invest £5.3 million to open 60 new stores and create 600 new jobs as part of the latest phase in its expansion strategy. The retailer currently boasts 398 stores across the UK, but by the time its ongoing expansion drive is complete by 2022, it should have 650.
Profits at Laura Ashley plunged by 72 per cent last year, with the fashion and homeware retailer attributing it to challenging trading conditions and the devaluation of the sterling since the Brexit vote. For the 52-week period ending June 30, the retailer said pre-tax profit tumbled from £22.8 million to £6.3 million, although its comparable 2016 numbers ran over 74 weeks
Game’s overall group sales edged up by just 0.1 per cent last year, driven by an improved performance in its second half. In its full-year fiscal period ending July 29, the video game retailer’s UK sales were down by 6.8 per cent, but this could’ve been worse had it not been for the 8.8 per cent uptick in sales it experiences in the second half
Foot Locker shares dived 15 per cent in pre-market trading today, after the retailer missed profit and sales estimates for the second quarter. The US-based global sportswear chain raked a net income of $51 million (£39.5 million) in the quarter, compared with $127 million (£98.5 million) in the previous quarter and well below most analyst estimates
The US-based parent company of TK Maxx has recorded a six per cent rise in sales for the second quarter of its fiscal year. In the three months to July 29, TJX Companies raked in $8.4 billion (£6.5 billion) in sales while net income for the same period was $553 million (£430 million).
An aggressive store expansion drive and increase in like-for-like sales has helped gift card retailer Card Factory deliver strong half-year results. For the six months ending July 31, the high street chain posted like-for-like sales growth of 3.1 per cent and total reported sales growth of 6.1 per cent. Card Factory also opened 34 new UK stores during the first half, bringing its total UK estate to 895 stores after a net increase of 30 stores
Online fashion retailer Zalando has recorded a slight slow down in its revenue and operating profit, despite growing its customer base and average order numbers.
Tighter controls on discounting and reducing its department store inventory has allowed Ralph Lauren to record better-than-expected quarterly results under new chief executive Patrice Louvet. Shares at the luxury fashion retailer rose by as much as 11 per cent to $87 (£67) today, which allowed the company to claw back a large chunk of its losses for the year.
Global fashion retailer Hugo Boss has reaffirmed its positive outlook after recording sales growth in the first half of its financial year.