Up-to-date coverage of the latest events in UK retail.
10:10am Angling Direct sales surge 31.5%
Specialist fishing equipment retailer Angling Direct has recorded strong sales growth despite the challenging trading environment.
The retailer grew group sales by 31.5% to £14.6m for the quarter ending 30 November, which it attributes to a strong retail offering and growing brand loyalty.
In-store like-for-likes grew 7.2% to £4.96m and ecommerce sales increased 24.3% to £6.71m, while Black Friday transactions increased 42.5% year-on-year.
H&M records fourth-quarter sales increase
The Swedish fashion group posted a 12% rise in sales excluding VAT year-on-year to 56.4bn SEK (£5bn) in the three months to November 30.
The retail group, which is in the midst of a turnaround plan and posted a 20% fall in pre-tax profits to 40.1bn (£350m) in its previous financial quarter to the end of September, will post its full-year results on January 31.
Ikea new Greenwich store to offer flexible working space
The Swedish retailer’s latest city-centre store, which is set to open on February 7 at the Millennium Way Retail Park, will have dedicated areas for flexible working, in-store workshops and free green spaces alongside its traditional in-store offerings.
The store in incorporating a variety of technologies including solar panels, rainwater harvesting, renewable construction materials and a geothermal heating system in its bid to be 100% sustainable.
Ikea’s Greenwich store follows city centre openings in Wembley, Tottenham, Croydon and Lakeside alongside its new, smaller Planning Studio format, which will open its second location in Bromley early next year.