Up-to-date coverage of the latest events in UK retail.
Grocery sales rise marks three years of growth
Grocery sales have risen 1.4% year on year, representing three years of continuous growth, the latest Kantar data revealed.
The sales advance over the 12 weeks to June 16 was however described as “modest” against a period last year when a heatwave and the men’s football World Cup boosted performance.
The latest data showed that sales fell at all of the big four grocers, with the exception of Tesco, which was flat.
Carpetright reports ‘year of two halves’ as turnaround continues
Carpetright has posted reduced annual losses and said there has been strong like-for-like growth in the new financial year.
The floorcoverings giant, which last year underwent a CVA, reported a statutory pre-tax loss of £24.8m in the year to April 27, down from £69.8m in 2018. Underlying EBITDA was £2.9m – which Carpetright said was in line with expectations – versus £7.1m the previous year.
Group revenue slid 13.4% to £386.4m during the year.
Amazon Prime Day to run over 48 hours for first time
Amazon’s annual Prime Day deals extravaganza will be extended this year to run over a 48-hour period for the first time.
This year’s Prime Day will be on July 15 and 16. The online giant has already begun to reveal special offers and promises “epic deals across TVs, smart home, kitchen, grocery, toys, fashion, furniture, everyday essentials and more”.
New Look celebrates return to ‘underlying profitability’
New Look is back in the black on an underlying basis after its turnaround programme bore fruit.
The retailer reported core underlying operating profit of £33.2m in its latest year compared to a loss of £35.7m the year before.
Revenue over the year fell 3.8% to £1.24bn, which New Look said was in line with expectations “given focus on driving more profitable sales and fewer stores”. In its main UK market core like-for-likes slipped 1.6%.
On a statutory basis New Look made a loss before tax of £522.2m, compared with £190.2m the previous year. The retailer said that was principally driven by £423.3m in goodwill and non-cash brand impairment charges as it restructured.