Howden Joinery Group Interim Trading Update
With total sales at 5.9% and LFL sales at 4% this strong set of numbers from Howden come on the back of a relatively tough comparative last year. The consistent opening of new depots has helped Howden increase coverage and its share of trade customers which, on an overall basis, has helped to lift sales. However, like-for-like sales are also …
April 26, 2012
ASOS Interim Trading Update
The ASOS story remains a tale of two halves. UK growth, while highly respectable, is modest and reflects the maturity of the business; meanwhile, the international side continues to storm ahead with heady numbers. On the UK front, sales growth of 4% represents a solid performance but remains some way below the 10% increase seen in the last quarter and a …
April 26, 2012
Sports Direct Pre-close Trading Update
Sports Direct’s continued positive performance, with total sales at 13.2% over a 9 week period, is indicative of a retailer which has compounded external market conditions through a focus on getting the basics of the business right. Sports Direct has comprehensively outperformed rival specialists such as JJB Sports and Blacks off the back of building large, cohesive ranges of established sportswear brands, …
April 25, 2012
Carpetright Floored Again
Carpetright has admitted, for the sixth time in fifteen months, that it would not meet City forecasts, with disappointing bed sales in the UK (along with difficult trading in the Netherlands and Belgium) largely to blame. Shares in the group fell 6% after it said it was expecting full-year underlying pre-tax profit of between £3mn …
April 25, 2012
Primark Boosted by Bargain Hunters
Revenue at Primark during the first six months jumped 15% to £1.6bn, helped by further store openings. Sales in the UK edged up 1% on a like-for-like basis as Primark’s fashion ranges continued to gain traction with shoppers on a budget, while sales abroad were 2% higher. It’s owner, Associated British Foods (ABF), reported a …
April 25, 2012
Debenhams reports robust performance
Debenhams has reported a relatively robust performance for its first half considering the unseasonably warm weather last autumn. (26 weeks to 3rd March 2012) Total sales +1.4% LFL sales +0.3% While the adverse weather conditions did inevitably have some impact on its outwear sales with its Designer at Debenhams ranges suffering a 2.6% decline compared …
April 24, 2012
Carpetright Trading Update
The downturn has hit the UK floorcoverings market hard with total sales contracting by over a third since the onset of recession in 2008. It is against this backdrop that Carpetright’s performance needs to be judged; and, on balance, the assessment is a positive one. Trading update (11 weeks to 14th April 2012): Total sales down …
April 24, 2012
Tesco – Full Year Results
Full year results Group +6.8% UK +5.3% (total) / -0.9 (LFL) Ex fuel and ex VAT These numbers are broadly as expected and, while far from disastrous, have exposed signs of weakness in a business thata few years ago seemed to be an unstoppable beast. We are also starting to see more details emerging of how Phil Clarke plans to …
April 18, 2012
Marks and Spencer Q4 Trading Update
Total sales +1.2%(food, +3.1% / GM, -1.2%) LFL sales -0.7%(food, +1.0% / GM, -2.8%) Overall this is a fairly muted set of results which underlines the continued softness on the high street. At a headline level M&S has shown reasonable progress but most of this has been driven by the growth of the food business and underlying general merchandise sales …
April 18, 2012
Mothercare Q4 Trading Update
With total sales down by -4.2% and like-for-like sales at -8.2%, these results serve to highlight the mammoth task awaiting incoming Chief Executive, Simon Carver. Mothercare has now suffered nine successive quarters of declining UK LFL sales, and its domestic performance continues to cast a dark shadow over the health of the wider Group. Mothercare is struggling domestically amid mounting competitive threats and a …
April 18, 2012
