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Marks & Spencer reports strong Christmas trading

27 days ago   |   By

Image: Marks & Spencer
Clothing & home sales at Marks & Spencer plc increased 8.8 percent during the third quarter covering the Christmas trading period with like-for-like sales up 8.6 percent and performance well ahead of the market.
Clothing & home achieved over 10 percent market share in the period under review, its highest level since 2015. Store sales increased 12.8 percent with standout early performances from new stores such as Colchester and Chesterfield which are part of the store rotation programme.
“Clothing and home delivered another outstanding performance, maintaining its...
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Pepco Group delivers Q1 sales growth of 27 percent

28 days ago   |   By

Image: Pepco Barcelona
Pan-European variety discount retailer, Pepco Group, owner of the Pepco and Dealz brands in Europe and Poundland in the UK, reported first quarter revenues of 1,654 million euros, up 27 percent on a constant currency basis and 24 percent on an actual basis.
Group Q1 like-for-like growth was 13 percent on a constant currency basis, with all brands delivering strong growth. The company said Pepco sales were up 19.7 percent LFL, while Poundland Group sales increased 4.4 percent LFL.
Commenting on the results, Trevor Masters, CEO of Pepco Group, said: “We had a very...
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Fast Retailing Group: Q1 sales up but profit declines

28 days ago   |   By

Image: Fast Retailing Company; Uniqlo, Theory
The Fast Retailing Group's revenue totalled 716.3 billion yen, up 14.2 percent, while operating profit totalled 117 billion yen, down 2 percent in the first quarter of FY23.
The company said in a release that the result was due primarily to a large decline in profits at Uniqlo operation in the Mainland China market caused by Covid-19 restrictions on movement.
The group's first-quarter pre-tax profit contracted to 126.8 billion yen, down 5.5 percent and profit attributable to owners of the parent decreased to 85 billion yen, a drop of 9.1...
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N Brown Q3 revenues drop

28 days ago   |   By

Image: JD Williams, N Brown media gallery
N Brown plc reported third quarter revenue of 249.2 million pounds, down 7.6 percent in line with Q2 trends and management expectations, reflecting a soft and highly promotional market.
Commenting on the trading performance, Steve Johnson, the company's chief executive, said: "We have traded in line with our expectations through a challenging period, as customers continue to be more cautious with their discretionary spending in the face of the various, well-documented consumer pressures.”
With peak season behind, the company expects the fourth...
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Asos posts 3 percent drop in Christmas sales

28 days ago   |   By

Image: Asos x Nordstrom, New York
For the four months ended December 31, 2022, revenues at Asos plc declined by 3 percent to 1,336.5 million pounds, which the company said were broadly in line with expectations.
The company said in a statement that trading in the period was volatile and Asos expects these trends to continue through this financial year, but basket economics have proved resilient.
Commenting on the trading update, José Antonio Ramos Calamonte, Asos chief executive officer, said: "We are undertaking necessary strategic and operational changes, with our focus shifting from...
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