Including Primark enjoying sales surge and Hamleys welcoming new boss.
The Source rounds up some of the key retail stories of the week.
Primark saw its sales rise 13% in the 40 weeks to June 24 in constant currency – driven by a 13% expansion in selling space and like for likes. The retailer also said that actual exchange rates were 21% ahead, as it benefitted from the weakness in sterling. UK sales are 9% ahead of the previous year, with market share also increasing during that period. Operating profit margin dropped from 11.7% in the first half of last year to 10% for the same period this year, with a strengthened dollar affecting input costs.
Hamleys chief executive Gudjon Reynisson is to step down in October after nine years in the role. He will become vice chairman alongside current chairman Frank Slevin. Chief operating officer Ralph Cunningham will take the helm of the toy retailer.
John Lewis‘ first full week of its summer clearance helped the retailer to a sales increase of 8.8% to £98.7 million in the week to July 1. Sales of electricals and home technology grew 12.4% – this was driven by Apple products which soared 34%. Home items increased 8% overall, while fashion benefitted from the good weather, up 7%. Meanwhile, beauty, leisure and wellbeing was up 12.5% overall.
Tesco has made a number of changes to its Clubcard scheme. Uber has been added to the retailer’s list of partners where customers can used their vouchers, alongside Hotels.com. Tesco is also launching a new contactless card, which customers can simply tap at the checkout, as well as making changes to the Clubcard app.
The Converse footwear brand is opening its first standalone store in the UK, taking up residence this summer at the London Designer Outlet in Wembley Park. Vans and Dr Martens will also be taking space at LDO.
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