Up-to-date coverage of the latest events in UK retail.
2.09pm Laura Ashley issues second profit warning this year
Struggling retailer Laura Ashley has issued its second profit warning this year with full year results expected to be “significantly below market expectations.”
The retailer issued its first profit warning in February after suffering a pre-tax loss of £1.5m during the 26 weeks to December 31 as like-for-like retail sales fell 4.2%.
Total sales across the group fell 8.7% to £122.9m during the first half.
The home and fashion brand will post its full year results for the 52 weeks to June 30 on August 22.
7:53am Shop Direct to transfer fulfilment roles, saving jobs
Shop Direct is set to transfer its Manchester fulfilment centre to Clipper Logistics, saving 200 jobs which had been due to disappear as the business migrates returns to an automated warehouse at East Midlands Gateway.
Around 200 employees at the centre are still expected to lose their jobs but the business hopes to achieve this on a voluntary redundancy basis.
Shop Direct had expected the decision close its Greater Manchester fulfulment sites in 2021 to affect around 2,000 staff across three fulfilment centres. The move will create 500 permanent roles and another 200 to 300 agency roles during peak.
7:21am Carpetright like-for-likes recover
Carpetright has reported improved like-for-likes as it pursues a strategic recovery plan designed to return it to sustainable profitability.
The retailer said that it remained on track to achieve previously announced cost savings and that its overall performance was in line with expectations. It will report its final results on June 25.