Retail news
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Asda cautious on outlook as sales slip
- Posted:
- 19 August 2010 09:38
Asda has reported a fall in underlying sales for the second quarter in a row, driven by weak consumer confidence as the prospect of public sector spending cuts, rising taxes and job losses looms. The 377-store chain, owned by Walmart, warned that the 2010 outlook remained challenging with UK families ...read more
A & F posts Q2 profit but stores to close
- Posted:
- 19 August 2010 09:38
Abercrombie & Fitch has posted a bigger-than-expected profit in its second quarter but has simultaneously announced plans to close 60 of its stores. The retailer reported inventory up by 47% on a per-square-foot basis and margins continued to fall as the company resorted to discounting. The increase in inventory is ...read more
Profits soar at Urban Outfitters
- Posted:
- 19 August 2010 09:36
Impressive positive growth has continued at Urban Outfitters in the three months to July 31st. Results were in line with forecasts, with total quarterly revenue up by 21% to $552 million, driven by new stores and an 11% lift in comparable retail segment sales.By brand, comparable sales rose by 9% ...read more
Westfield confirms Stratford City opening date
- Posted:
- 19 August 2010 09:35
Australian listed shopping centre owner and developer, Westfield, has confirmed a September 2011 opening for its £1.45 billion Stratford City shopping centre.Westfield said that 70% of the retail area in the centre, which is a stone's throw from the 2012 Olympic stadium, is either already leased or committed.In the group's 1.6 ...read more
JJB FD to step down
- Posted:
- 19 August 2010 09:34
JJB Sports has announced that Lawrence Coppock is to step down as finance director during the course of the next twelve months. MR Coppock joined the board in May 2009 and since then has played a significant role in the initiatives taken to save the company from the brink of ...read more
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