Up-to-date coverage of the latest events in UK retail.
7.25am Aldi records close to £1bn sales in December
Aldi described the performance as its best ever UK Christmas trading period. The week of December 17 was Aldi’s busiest ever as sales surged 10% year-on-year.
Boss Giles Hurley hailed the ”standout performance” of its Specially Selected premium ranges during the month.
7.09am Dunelm to beat forecast after festive sales rise
Homewares specialist Dunelm generated a sales uplift of 9% in its second quarter when stores and online both did well.
Dunelm reported that store like for likes advanced 5.7% year on year in the quarter to December 29, when Dunelm.com sales climbed by 37.9%. Profit is now expected to nudge ahead of expectations.
6.56am Adviser raises concerns over Debenhams director
City adviser ISS has “major concerns” about David Adams’ position as a non-executive director of Debenhams and has recommended that investors do not back him at this week’s AGM.
ISS is concerned about Adams because of his previous position as chair of drinks specialist Conviviality, which collapsed in April last year, according to the Daily Mail.
Following the administration of Bargain Booze, Adams stood down from the boards of Fevertree Drinks and Elegant Hotels.
Debenhams, which updates on its Christmas trading and holds its AGM this Thursday, has urged shareholders to back Adams and said he has “deep and very relevant experience of retail and finance”.
Adams joined Debenhams’ board in 2017 and last year became chair of its audit committee.
6.48am Profits rise at Space NK
Annual revenues have risen at beauty retailer Space NK.
Space NK’s profits rose to £4.9m for the year to the end of last March, up from £3.3m the previous year, The Sunday Times reported.
Sales advanced 6.7% to £102.9m over the year.
Founded by entrepreneur Nicky Kinnaird, who left in 2014, Space NK began with a shop in Covent Garden in 1993 and now has more than 60 branches in the UK and Ireland, as well as 29 in the US and a boutique in Bloomingdale’s.