- Cambria Automobiles have reported a 14.7% increase in revenue to £278.4m for the six months to 29 February 2016. New vehicle sales increased by 5.1% while used vehicle sales increased by 4.4% for the same period. Underlying profit before tax stood at £4.6m.
- Gear4Music have reported a 46% increase in sales to £35.5m for the 12 months to 29 February 2016. UK sales increase by 39% to £26m while European sales increase by 73% to £9.5m for the same period. Pre-tax profit stood at £6m.
- Greggs have reported a 5.7% increase in total sales for 18 weeks to 07 May 2016. Like-for-like sales increased by 3.7% for the same period.
- Pandora have reported a 30% increase in UK sales for Q1 2016.
- Supergroup have reported a 21.1% increase in group sales to £589.5m for the 12 months to 23 April 2016. Retail sales increased by 24.5% to £416.1m while like-for-like sales increased by 11.3% for the same period. Wholesale sales increased by 13.7% to £173.4m.
- Vertu have reported a 16.8% increase in revenue to £2.4bn for the 12 months to 29 February 2016. Profit before tax stood at £26m for the same period.
Despite the boost of spring weather, outdoor and sporting goods retailers fared poorly. In an inverse of last weeks results, it was the gift retailers that showed LFL growth, however it was not enough to offset the drag of the outdoor and sporting retailers as LFL sales fell to a figure of -1.44%.
Lovely weather and the late April Bank Holiday contributed to a boost in sales as designer/bespoke retailers saw significant improvements in sales. On the other end, sports retailers and more traditional players saw moderate declines. LFL sales were up +3.86%, the first signs of positive movement since the beginning of March, as footwear and accessories saw growth.
The end of the spring DIY season has led to a decline in LFL sales as the figure fell to -5.80% with online sales faring better than in-store sales.
Online sales rebounded with LFL sales just edging past the +20% LFL figure (+20.04%) led by sales in online fashion (+24.20%), the best figure since the beginning of March when fashion rocketed past the +30% mark.
Clothing, Footwear & Accessories
- Farfetch have raised $110m in a new funding round in order to expand their presence in the Asia-Pacific region. (Source: Financial Times)
- M&S have announced a series of changes to their Board including their Chief Financial Officer, Helen Weir, assuming responsibility for Strategy Implementation. (Source: Company Press Release)
- Womenswear etailer Hush is launching a series of “pop in” shops over the next year as it looks to boost engagement with customers through a physical presence. (Source: Drapers)
- M&S have also launched their Autumn 2016 collection and made it available to shoppers for purchase. (Source: The Guardian)
- Memsahib collections, the fashion label, have opened their first pop-up shop in the UK at Fulham Road. (Source: Retail Bulletin)
- New Look have announced plans to open their first dedicated menswear store in the South East at the Bluewater retail and leisure destination. (Source: Drapers)
- Pep & Co have announced plans to bring forward their Christmas plans to create over 100 temporary jobs in their stores, following consistent sales growth in 2016. (Source: Retail Gazette)
- SuperGroup have announced that their Director, James Holder, has decided to step down from the role. He will lead SuperDesign Lab in order to drive product innovation exclusively for SuperGroup. (Source: Company Press Release)
Electrical & Entertainment
- Amazon have launched their online video service that allows users to rent and buy content, post videos and earn royalties. The service was launched in UK, US, Germany, Austria and Japan. (Source: The Guardian)
- Dyson have announced plans to open a standalone store at Oxford Street, London in July 2016. (Source: Retail Week)
The latest figures from Kantar Worldpanel, for the 12 weeks to 10 April 2015, revealed that physical entertainment retailers are continuing to take market share from the online players. In Q1 2016 high street and grocery stores accounted for 69.8% of total entertainment spend, up from 67.5% in Q1 2015. Despite recent high profile losses for high street fashion retailers, the performance of bricks and mortar entertainment stores has demonstrated the strong appeal of consumers to physical stores. High street entertainment spend declined by just 2.0% in Q1 2016 in contrast with a 12% fall online.
Food & Drink
- Asda have announced plans to extend their sustainability scheme Sustain & Save Exchange in order to help food and drink suppliers increase their efficiency. (Source: Verdict)
- Conviviality have appointed Jennifer Laing as their new Non-Executive Director, with immediate effect. The retailer has also appointed Mark Aylwin as new Managing Director for Conviviality Direct. (Source: Company Press Release)
- The Co-operative have announced plans to open 15 new stores in Yorkshire by 2017. (Source: Verdict)
- Pernod Ricard has joined rival Diageo in backing the campaign to keep Britain in the EU.
- Greggs have relaunched their Greggs Rewards mobile payment app in order to make shopping quicker and easier without the need to carry a wallet. (Source: Retail Bulletin)
- Tesco have announced plans to sell their products in Spain through Spanish department store El Corte Ingles. (Source: The Guardian)
- Danone’s UK unit has launched a GBP1.8m campaign to support its Volvic Juiced brand as it looks to recruit new consumers. (Source: Just Drinks)
- Ikea UK have announced plans to open their new small format store at the Westfield Stratford City shopping centre in London by Summer 2016. (Source: Retail Gazette)
- The Pen Shop have opened their new store at Londons St Pancras International rail station. (Source: Company Press Release)
- ScS have announced that their Chief Financial Officer, Ron Turnbull, has decided to step down from the role, with effect from 12 August 2016. (Source: Company Press Release)