Peel Hunt has increased its target price for Marks & Spencer (LON: MKS) by one-third. It also believes that a dividend maybe announced with the full year figures on Wednesday (24 May). The refit programme is the most comprehensive that has been undertaken by the retailer. Peel Hunt is particularly impressed with the food refits. […]

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Discount retailer B&M European Value Retail (LON: BME) has grown its like-for-like sales by more than 30% during November. It is waiving business rate relief from the government. There will be £80m waived and this will hit forecasts. However, that strong trading has enabled a £60m uplift in expectations. That means that the net effect […]

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Sosander shares (LON: SOS) opened 2.53% lower on Tuesday morning after the group released its half-year trading update. For the six months ended 30 September, revenue surged 52% from £2.81m to £4.28m whilst gross profit grew by 48% to £2.24m. Monthly sales for September to November increased by 115% compared to the average for the […]

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Pets at Home (LON: PETS) has reported a total group revenue growth of 5.1% to £574.4m in the six months to October. Thanks to an “exceptional period of demand”, the group revealed a 4.2% jump in sales compared to the same period a year earlier. The FTSE 250 firm said in a trading update that […]

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WH Smith (LON: SMWH) has posted a pre-tax loss of £280m and scrapped its dividend. The retailer posted a 33% fall in revenue in the year to the end of August to £1bn. WH Smith said on Thursday that it plans to close another 25 shops after the group swung to a loss from a […]

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The Works shares (LON: WRKS) have soared on Thursday morning after the group hailed strong post-lockdown trading. For the 19 weeks ended 25 October 2020, excluding the lockdown, like-for-like sales increased by 10.6%. Including the lockdown when all stores were closed, sales fell by 7%. “We have been encouraged by the performance during the period, […]

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Shoe Zone shares (LON: SHOE) plunged on Wednesday after the group a “challenging” second half of the year. Store trading since reopening in June has been -20% year on year whilst digital trading has broadly increased by 100% year on year. The retailer said it had been impacted by lockdown and continues to be hit […]

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Next (LON: NXT) has revealed better than expected sales for the third quarter of the year. The fashion retailer has hiked its profit forecast for the year to £365m – up from £300m. Despite the pandemic, sales in the three months to 24 October were 2.8% higher than the year previously. Year-end net debt is […]

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Asos shares (LON: ASC) are trading 9% lower despite the 329% surge in pre-tax profits amid the pandemic. The online fashion retailer added a further 3.1 million customers, taking the total to 23.4 million. Sales as Asos surged to £3.3bn, increasing by 19% in the year to 31 August thanks to the demand for skincare […]

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Ted Baker shares (LON: TED) fell this morning the appointment of Colin La Fontaine Jackson as the group’s new Non-Executive Director. Jackson is a representative of founder Ray Kelvin, who owns over 10% of the company, and left the clothing retailer in 2019 after allegations of inappropriate behavior towards employees. Following his departure, Ted Baker […]

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Marks & Spencer (M&S) will reportedly announce hundreds of job cuts this week. According to a Sky News report, the retailer will be revealing a redundancy plan that may affect thousands of employees. During the lockdown, M&S closed between 100 – 120 stores and furloughed 27,000 of its 78,000 employees. Many of these employees have […]

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