Company Results

• Dreams, the UK bed retailer, have reported a 7.2% increase in sales to £300.0m for the year to 24 December 2017. Like-for-like sales increased by 3.3% for the same period. (Source: Retail Gazette)

• Kingfisher have reported a 3.8% increase in total sales to £11.7bn for the year to 31 January 2018. Retail profit increased by 0.3% to £849.0m, while underlying pre tax profit stood at £797.0m for the same period.

• Next PLC have reported a 0.5% decrease in total group sales to £4.1bn for the 52 weeks to 27 January 2018. Profit before tax stood at £726.1m for the same period.

• Ocado Group have reported a 11.7% increase in retail revenue to £363.4m for the 13 weeks to 04 March 2018. Average orders per week increased by 11.1% to 280,000 during the same period.

• ScS have reported a 1.5% increase in gross sales to £168.4m for the 26 weeks to 27 January 2018. Revenue increased by 1.8% to £160.7m for the same period.

• Ted Baker have reported a 11.4% increase in group revenue to £591.7m for the 52 weeks to 27 January 2018. UK and Europe retail sales increased by 7.7% to £301.1m while e-commerce sales increased by 39.8% to £101.1m. Group profit before tax stood at £68.8m for the same period.

Lifestyle LFLs were down by –2.77% this week from a base of +3.16% for the same week last year. The snow in recent weeks has played a significant role in in-store LFL sales being negative in two of the last four weeks for lifestyle retailers. This week, 58% of respondents reported negative LFL growth.
Fashion LFLs were down by –9.28% for bricks-and-mortar sales this week from a base of +1.19% for the same week last year. The equivalent week a year ago saw more spring-like weather boosting sales, while weekend trading was hit by snow this week. In-store fashion LFL sales have been negative in eight of the last ten weeks. This week, 88% of respondents reported negative in-store sales growth.
Homeware LFLs were down by a significant –10.13% this week from a base of +3.25% for the equivalent week last year. Homeware has posted negative in-store growth in seven of the last ten weeks. Homeware retailers will be looking for a boost to sales over the upcoming Easter period.
Non-store sales were up by +12.72% this week from a base of +18.85% for the same week last year. Following the only +20% non-store growth week of the year to-date last week, this week a slowdown in homeware non-store sales held back overall growth, while fashion continued to exhibit a stronger performance via non-store channels.

Clothing, Footwear & Accessories

• LK Bennett have announced that their CEO, Darren Topp, is stepping down from the company with effect from April 2018 and will be replaced by Erica Vilkauls, who formerly headed up womenswear chain East. (Source: Drapers)

• New Look have announced the appointment of Warehouse’s Kate Walmsley to head the retailer’s ecommerce and digital operations. She has already joined New Look and will report directly to executive chairman Alistair McGeorge. (Source: Retail Gazette)

• New Look have also announced a restructuring plan to close 60 UK stores and cut 1,000 jobs. The stores will close within 12 months and some staff may be redeployed. The turnaround plan will cut the fashion chain’s rents by between 15% to 55% across its remaining 393 stores. (Source: Global Data)

• Yours Clothing, the plus-size fashion retailer, have announced the appointment of Jonathan Wall as Non-Executive Director with effect from 1 April 2018. (Source: Retail Gazette)

• Realbuzz, a sportswear brand, have announced plans to open a concept store at London’s Seven Dials in April 2018 as part of its expansion plans. The 3,000 sq.ft. shop will feature interactive screens, in-store health & fitness classes and educational zones. (Source: Drapers)

• Skinnydip, the accessories retailer, have rolled out standalone stores at five Intu shopping centres as part of plans to expand its physical store presence. The new stores form part of 12 openings for Skinnydip since 2017. (Source: Drapers)

• Superdrug have opened a pop-up shop in London’s Shoreditch Box Park to capitalise on the rapidly growing vegan beauty trend. The retailer’s vegan pop-up shop will be open for three months and is selling products across make-up, skincare and men’s grooming categories. (Source: Retail Week)

Electrical & Entertainment

• Instagram has announced the launch of “Shopping” in the UK, cementing itself as a direct-to-consumer ecommerce brand. The update on the social media platform will allow consumers to seamlessly purchase products directly from businesses. (Source: Retail Gazette)

• Maplin have announced 66 more job losses at head offices in London and Rotherham while the search for a buyer continues. Around 57 roles in the capital and nine in South Yorkshire would be affected, bringing the total number of job losses to 129. (Source: The Times)

• Smiggle have announced the opening of an Oxford Street flagship in May 2018. The company is on track to open between 30 and 40 new stores in its current financial year. (Source: Retail Week)

• Toys R Us have announced the closure of its UK distribution centre in the West Midlands, leading to the loss of around 100 jobs. (Source: Retail Gazette)

Food & Drink

• The Co-op have announced an exclusive partnership with Live Nation to become the first UK food retailer to have a supermarket at four major summer music festivals. The retailer will have 6,000 sq.ft. shops at the Download, Latitude, Reading and Leeds festivals in Summer 2018. (Source: Company Press Release)

• Conviviality have announced that their Chief Executive Officer, Diana Hunter, is stepping down from the company with immediate effect. David Adams, currently Non-Executive Chairman, is stepping into the role of Executive Chairman until further notice. (Source: Company Press Release)

• Red Bull expands sugar-free portfolio to cover UK range Red Bull is to have a sugar-free option for its entire range of energy drinks as it ups investment in the low-calorie category. (Source: Just Drinks)

• Conviviality have also announced plans to launch an equity fundraiser in an attempt to recapitalise the business. The company with its broker, Investec Bank plc, has arranged meetings with institutional investors to raise gross proceeds of £125.0m. (Source: Company Press Release)

• Berry Bros & Rudd has launched a range of blended malt Scotch whiskies which will join its recently re-launched London Dry Gin to form ‘The Classic Range’. (Source: Just Drinks)

• M&S have announced the appointment of Stuart Machin as Managing Director of M&S’s food arm with effect from late April 2018. He is currently engaged as Group CEO of Steinhoff UK. (Company Press Release)

• M&S have also hired Lawrence Christensen, a grocery supply chain expert, to work as independent adviser for the retailer’s turnaround scheme. He will work with the retailer for three days a week, focusing on the retailer’s food retail arm on how to best transport food from supplier to store. (Source: Retail Gazette)

• Sainsbury’s have announced a cut in the prices of 930 everyday grocery products in their stores and online by investing £150m. Customers will benefit from lower prices on items in the retailer’s own brand food ranges plus a number of other household brands. (Source: Company Press Release)

Household

• Debenhams have announced a partnership with British furniture brand, Swoon Editions, to bring the latter’s collections into its department stores. The first concession is set to open in Debenhams’ Westfield White City store later in March 2018. (Source: Company Press Release)

• Made.com, the furniture and interior design retailer, have announced the appointment of Adrian Evans as their new Chief Financial Officer with immediate effect. (Source: Retail Gazette)

• Made.com have also announced the securing of £40.0m of equity funding. The investments will be used to further accelerate growth and establish the retailer’s digital brand leadership across Europe as well as the opening of new showrooms. (Source: Retail Gazette)

• Mothercare have appointed KPMG to advise on the restructuring of the business as the retailer seeks waivers of some of its financial covenants and attempts to raise more cash. (Source: Drapers)

• New Look have trialled a homewares range at a new four-floor flagship store that opened at Oxford Street on 22 March 2018. The major new addition is a selection of homeware items under a central ‘Home’ screen displayed on the first floor. (Source: Retail Week)

• Pottery Barn, the California based furniture and homewares retailer, have announced a partnership with John Lewis on its Pottery Barn Kids Range. The retailer plans to launch in the UK later in 2018. (Source: Retail Week)

Courtesy of ‘Barclays‘