Including sales success at Ted Baker, John Lewis and JD Sports.
The Source rounds up some of the key retail stories of the week.
Ted Baker enjoyed sales growth of 12.7% for the 19 weeks to June 11, with group sales also increasing 11.3%. The retailer’s international expansion continues apace, with openings in Beijing, Ottawa and Seattle. There are also new concessions in department stores in China, France, Germany, Japan and Spain. Ted Baker now has 465 stores and concessions worldwide, with 185 in the UK.
John Lewis saw sales grow 1.5% to £71 million for the week to June 11, bolstered by its gift food category. Ahead of the Queen’s 90th birthday, British heritage products proved popular at the retailer, boosting sales in the division by 162% year on year. The retailer’s electricals and home technology category also grew 11.4%, while home edged up 1.1%. However, fashion sales declined 5.4%.
Elsewhere at John Lewis, the retailer confirmed it is launching a new ‘affordable luxury’ womenswear label. Called Modern Rarity, the range will be the chain’s first luxury ready to wear label and its biggest investment in womenswear.
Retail sales grew in May for the second consecutive month, according to new ONS figures. Retail sales value was boosted 3.1% year on year in May. This equates to £29.2 billion spent in the industry last month, compared with £28.3 billion during the same period last year. Online sales by value in May also increased 6.4% since April, and 21.5% year on year.
Discount retailer Poundland has posted a fall in profits and like for likes for the full year. It reported a 4.1% drop in EBITDA to £56.9 million for the 12 months ending March 27. Comparable pre-tax profit – excluding converted 99p stores – fell 13.5% to £37.9 million. Outgoing chief executive, Jim McCarthy, said: “I believe we are well placed to male progress in the year ahead.”
Sportswear retailer JD Sports has said it is on track to achieve “excellent” first half results, following a boost from Euro 2016. The news follows record results for the retailer in the year to January 30.
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