Dr Martens swings to the red but shares spike with analysts positive on future growth Retail Despite a pre-tax loss from Dr Martens, analysts have remained positive on its future growth prospects as it cuts costs and shakes up its leadership team. The boot-maker told markets this morning that profit before tax swung into the red, with a loss of £28.7m in the 26 weeks ended September 29, from a profit [...]
Next predicts £1bn profit after cold weather boosts sales Retail Next has upgraded its profit forecast for the year to over £1bn after better-than-expected sales in its third quarter. The FTSE 100 retail giant, which is headquartered in Leicester, has upgraded its guidance from £995m to £1.005bn. In an update to the London Stock Exchange, Next said full price sales in the three months to 30 October [...]
Asos to cut 200 jobs at head office as it battles cheaper fast fashion rivals Business Asos is planning to chop 200 roles from its head office as it looks to restructure its business in the face of mounting difficulties post-pandemic due to intense competition from cheaper rivals, according to reports. Asos said that current set-up was “no longer suitable for today’s business priorities and context… We need to move faster [...]
Industrial strategy must boost e-commerce exports to help small firms, report urges September 9, 2024 The government’s industrial strategy must prioritise e-commerce in order to boost small business exports and promote economic growth, a report has urged. Improving trade technology adoption, boosting support for targeting emerging markets, and developing initiatives to support female-led small and medium enterprises (SMEs) would make a significant contribution to the number of small firms exporting, [...]
Samarkand: E-commerce firm shifts focus to UK amid China struggles August 12, 2024 E-commerce group Samarkand, which focuses on connecting Western brands with Chinese customers, has struggled to weather Beijing’s slowdown and said it will change its primary focus to the UK. Revenue at the group decreased by three per cent to £16.9m in the year ended March 31, down from £17.5m in 2023. Adjusted earnings before interest, [...]
Zalando: Online fashion giant reports strong growth after push into AI August 6, 2024 Online shopping giant Zalando reported strong growth in the second quarter as it leaned into artificial intelligence (AI) in search of a bigger share of the e-commerce fashion and lifestyle market. Adjusted earnings before interest and taxes (EBIT) rose to €171.6m (£147.3m), an 18 per cent rise from £144.8m year on year in the second [...]