UK retail sales volumes fell by 1.6% in August compared to July, continuing a downward trend that started in 2021. In recent months, rising prices and their impact on the cost of living have been hurting sales.
Mytheresa’s Q4 and full-year results on Thursday showed accelerating growth in the final quarter of its financial year which meant general merchandise value (GMV) growth of 21.3% for the full 12 months.
John Lewis’s half-year results for the period to the end of July saw the John Lewis and Waitrose owner making a loss before tax and exceptional items of £92 million, compared to a profit of £69 million a year ago.
British e-tail giant THG announced interim results on Thursday and talked of “substantial progress” in H1 as it continued to build “a strong, sustainable global platform supporting THG brands and Ingenuity clients”.
Inditex reported its first-half results on Wednesday and once again showed why it’s such a hugely successful fashion retail giant. It saw a “very strong operating performance” with sales and profits at “historic highs”.
The next wave of UK port strikes is on the horizon, adding another layer of concerns for retailers in the run up to the Christmas trading period. Felixstowe is under the threat of a second eight-day strike this month..