- McColl’s Retail Group have reported a 1.8% increase in total sales for the 13 weeks to 28 August 2016. Like-for-like sales decreased by 1.8% for the same period.
- Pernod Ricard has forecast a low single-digit lift in profits for the next fiscal year, as the company reported steady sales in fiscal-2016.
- Tsingtao Brewery’s first half profits slumped 11% as China’s second-largest brewery suffered amid weak consumer spending in the country.
Lifestyle LFLs were down by -4.00% this week, its poorest result in nine weeks. While department stores and some high end gift and outdoor goods retailers continued to perform well, the overall trend was negative, with 73% of respondents reporting negative LFL figures.
Fashion LFLs were down by a significant -9.56% this week, off of a weak base of -2.6% for the same week last year. The result was the worst reported in ten weeks. The figure reflects the decline in footfall and the withdrawal of much of the heavy discounting seen throughout the summer, with 72% of respondents reporting negative bricks-and-mortar LFL figures this week. It may be that shoppers will wait for a change in the weather before updating their wardrobes with new autumn fashions.
Homeware LFLs were up by +9.20% this week, marking the fifth week of positive growth in succession. Amongst dedicated retailers, sales of furniture and soft furnishings continued their positive run, while department stores struggled this week.
Non-store LFLs sank to a nine week low of +12.58% as the highs of previous weeks retracted. Across all respondents, 32% reported negative online growth this week. Amongst Fashion retailers, 34% of respondents reported negative non-store growth, while amongst homeware and lifestyle retailers that figure fell to 40% and 23% respectively.
Clothing, Footwear & Accessories
- Bonmarche have announced plans to open a 4720 sq. ft. store in Kingsway Centre, Newport. (Source: Retail Bulletin)
- Hobbs have announced plans for expansion into the US and other global markets after a turn around strategy helped the company reduce losses. (Source: Verdict)
- Hunkemöller, European lingerie giant have launched a UK website as a part of their plans to gain foothold in the UK market. (Source: Retail Week)
- Jack Wills have launched a camouflage-inspired clothing range in partnership with Help for Heroes, with 40% of proceeds going to the military charity. (Source: Verdict)
- Long Tall Sally has been acquired by German fashion group Tristyle. (Source: Drapers)
- River Island has announced a collaboration with Snapchat to develop bespoke filters for customers to use in its stores, in order to boost engagement. (Source: Company Press Release)
- Sainsburys have announced plans to launch a new premium clothing range Tu Premium in 160 stores across the UK in September 2016. (Source: Verdict)
- Shoezone have also announced plans to open a 3250 sq. ft. store in Kingsway Centre, Newport. (Source: Retail Bulletin)
The latest Asda Income Tracker has revealed that the average UK household had £202 a week of discretionary income in July 2016, up by £10 a week in July 2015. Falling food and drink prices (-2.6%) provided a welcome relief for family wallets. However, growth in spending power has slowed as essential item inflation increased by 0.1%. Despite a decline in confidence, the continued improvements in household finances have helped families shrug off much of the post-Brexit concern that plagued businesses and financial markets. Inflation is expected to remain the most notable threat to households over the coming months. Following the decline in value of the pound, the Bank of England has revised up its short-term inflation forecasts in August 2016, suggesting that price rises could be around the corner for households.
Electrical & Entertainment
- Amazon have launched their Dash service in UK which allows customers to place instant orders for next-day delivery of household items, through a range of inter-connected buttons. (Source: Guardian)
- GAME digital have appointed Guy Lister as their new Chief Operating Officer, with immediate effect. (Source: Company Press Release)
Food & Drink
- Hotel Chocolat have opened their new 1,400 square foot store in Peterborough’s Queensgate shopping centre. (Source: Retail Bulletin)
- Sainsburys have announced plans for the trial of a new concept called Slow Shopping in their Gosforth store, to help elderly customers and customers with disabilities. (Source: Company Press Release)
- The UK’s Advertising Standards Authority has upheld a complaint against one of Diageo’s Captain Morgan adverts.