Kingfisher Q1 Results
13 weeks to 28 April 2012 Group Sales – 3.6% UK & Ireland Sales - 6.9% UK & Ireland LFL Sales – 10.4% (UK figures are constant currency) At the heart of these terrible figures is the washout we experienced in April. In what is a big month for DIY and gardening retailers they were hit …
May 31, 2012
Topps Tiles Results
Although Topps was up against some tougher comparatives from last year (when, over the same period, LFL sales increased by 1.8%) its latest results are also a reflection of the ongoing difficulties in the home improvement sector. Fewer people moving home as well as tighter finances for those staying put has depressed demand for large …
May 29, 2012
Mothercare Preliminary Results
53 weeks to 31 March 2012 Group Sales +2.4% UK Sales -4.6% UK LFL Sales -6.2% These results reveal, in a nutshell, the inherent state of the business. While the global potential remains clear and growth continues, the UK is floundering and this has destroyed profitability (group underlying profit has plummeted from £28.5m in 2011 …
May 24, 2012
Ocado Trading Update
Ocado seems to have long left behind the issues that have besieged its Hatfield site, and so impinged its 2011 numbers, with its update representing a pleasing performance: Trading update 12 weeks to 13 May 2012 Total gross sales +13.0% While the economic environment may remain tough, consumers continue to value Ocado’s strong service credentials, …
May 23, 2012
M&S Full year results
Full year results – 52 weeks ended 31 March 2012 Total sales + 1.5% (food, +3.9% / GM, -0.9%) LFL sales +0.3% (food, +2.1% / GM, -1.8%) All figures relate to UK trading While these results are not terrible, neither are they particularly stunning. In our view, there is a degree to which they show …
May 22, 2012
Travis Perkins – interim results
17 weeks to 30 April 2012. Total sales +14.1% (includes Toolstation). LFL sales -5.2% Thanks to the acquisition of Toolstation boosting total sales growth these numbers aren’t actually too bad, but they once again demonstrate how difficult conditions are for DIY retailers right now. Despite having shrunk by £1.2bn in the past five years, the …
May 15, 2012
Clinton Cards – expected administration
Clinton Cards has indicated that it is likely to be pushed into administration by the owner of its debts, American Greetings. Given the general conditions in the greetings card market radical restructuring was always necessary at Clintons as the chain was just too large and unwieldy to survive. This could have come about by offloading …
May 9, 2012
From DIY to DFY (done for you)
Although household finances remain tight, large numbers of consumers would prefer to fork out on professionals than do work themselves . Households are now spending £1.2bn less on DIY than they did in 2008 . Spending forecast to decline further – by 3.7% this year . Despite finances being tighter, last year 52% of consumers …
May 8, 2012
Thorntons Q3 trading update
Overall performance at Thorntons’ own stores were depressed by the closure of 11 shops over the trading period. However, although they remain in negative territory the like-for-like numbers are much improved on the previous two quarters; by and large, thanks to a positive Easter trading period. Whether this modest improvement in underlying trading is sustainable …
May 8, 2012
Morrisons Interim Management Statement
Morrisons’ first LFL decline since 2005 is indicative both of falling food inflation and continued pressure on consumer disposable incomes, particularly in the grocer’s northern heartlands. This is all occurring against the backdrop of a market which can be characterised by its intensifying competiveness, with the underperforming market leader Tesco investing heavily in an attempt …
May 8, 2012
