Retail news round-up: Boohoo reports rise in sales and Coast, Oasis and Warehouse report declining sales in Ireland.
Boohoo reports rise in sales
Boohoo has exceeded the city forecasts with a 55% rise in sales to £114.3m in the four months to December 31, The Telegraph reported.
Sales in the UK increased 31% to £65m.
The strongest growth amongst Boohoo’s international markets was seen in the US with a 230% rise to £19.7m.
Boohoo is expected to report a sales rise of between 43% and 45% in the full year to end of February 2017.
Coast, Oasis and Warehouse reports decline in sales in Ireland
Coast Stores Ireland Limited has reported a 4% decline in sales to €7.2m (£6.2m) for the year ending February 27, 2016, The Irish Times reported.
Pre-tax profit for Coast Ireland was down from €1.1m to €700,000.
Oasis Fashions Ireland Limited posted 2% drop in annual sales to €19.1m with a fall in pre-tax profit to €200,000.
Warehouse Fashion Ireland Limited saw a 3% decline in sales to €8.5m.
Administrators for Kaupthing are believed to be seeking new owners for the retailers.
A sale of the trio is expected to realise less than £100m.
Spar warns slowdown in growth
Spar has warned of slowdown in growth in convenience sector.
Spar, which reported a 4.5% rise in sales for the year to April 30, said that the sector was reaching maturity.
However, the convenience sector is still expected to grow by 4.4% from £37.5bn to £41.9bn over the next five years.