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Superdry sees increase in sales but drop in profits

shopping-retail
The clothing company has seen sales rise to double digits. However, profits did drop.

The company’s shares faltered after recent currency fluctuations.

Sales rose by 20% to £402 million from the 26-week period ending on the 28 October, 2017. This may be so but gross profits dropped 28% to £9.1 million. Shares at the fashion brand have dropped 2.4% to £19.91 in the morning market.

The rise in sales can be attributed to the company’s expansion, where in the 26-week period it opened 91 new stores (23 of its own and 68 are licensed premises).

In a ten-week period to the 8 January, sales rose 13% to £216 million. The CEO of Superdry, Euan Sutherland, said, “Our focus is on executing against the growth opportunities we have identified. We have a clear brand positioning, an innovative approach to digital marketing, a disruptive multi-channel approach and a growing culture of operational excellence.”

Superdry will have to be careful in attempting to stave off such recent declines as Debenhams, where disappointing sales figures will likely lead to job cuts and store closures.

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Lidl leapfrogs Waitrose in UK supermarket league

Lidl
Lidl has beaten Waitrose into seventh place in the UK supermarket rankings, dominated as usual by Tesco.

The German discounter has achieved 5.2% of the Kantar Worldpanel market share, up from 4.5% this time last year – beating Waitrose, which remained static on 5.1%. The latest rankings are:

  1. Tesco
  2. Sainsbury’s
  3. Asda
  4. Morrisons
  5. Aldi
  6. The Co-operative
  7. Lidl
  8. Waitrose
  9. Iceland
  10. Ocado

“There is good news for the UK’s largest retailers, as the recovery which has so far defined 2017 continues apace,” explained Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel. “All four of Britain’s biggest grocers managed to grow sales for the fifth consecutive period, a run of collective success not seen since 2013.

“However, this welcome period of sustained growth hasn’t been enough to entirely offset pressure from the discounters: the big four now account for just 69.3% of the UK grocery market – down from 76.3% five years ago – and that looks set to fall further in the coming months.”

The latest data covers a 12-week period ending 13 August, with 10 million households visiting Lidl to stock up on alcohol and fresh produce in particular.