Boosted by the diamond jubilee and London Olympic and Paralympic Games, John Lewis stormed ahead with revenues of £1.3 billion in the half-year ended 28 July 2012-up 12.9 per cent on the same period last year. Operating profit soared 188.6 per cent during the period, hitting £45.6 million. At its direct arm, johnlewis.com, sales were up 43.1 per cent to £375.8 million accounting for 24 per cent of total John Lewis sales.
Next has announced better-than-expected results for the first half of the year but warned that sales in August and early September have been disappointing. The
homewares and apparel merchant posted retail revenues of £1 billion-almost flat on last year. Sales in its direct arm, however, were up 13.3 per cent to £551.7 million in the half-year ended July. Next Directory profit was up 22.1 per cent to £137.7 million. Overseas, Next grew its direct business from £15 million to £24 million, adding a further 1.9 per cent to Directory sales. By the end of the year, Next expects to be trading in 61 countries, including in South America. It forecasts international sales of £52 million and profits of £10 million.
Next-owned fashion retailer Lipsy moved back into the black in the half-year ended July, with profits of £500,000, compared with a loss of £400,000 in the comparable period last year. Total sales increased by 18.7 per cent to £26.9 million with online sales up more than 200 per cent to £7.7 million.
Argos has stemmed the decline experienced in the first quarter to deliver a sales rise of 0.6 per cent in the 26 weeks to 1 September 2012, to £1.69 billion. Argos says strong demand for tablets and e-readers fuelled sales of consumer electronics, which together with further good growth in white goods offset the declines in the video gaming and audio categories and the weaker trading in seasonal products. Sales via
Argos’s online check and reserve service grew 24 per cent to represent 30 per cent of total Argos sales. Total online sales grew 16 per cent and represented 42 per cent of total Argos sales in the period. Sister company Homebase fared worse in the period, with sales declining 6.2 per cent to £787 million due to a slowdown in big ticket sales and seasonal products, which were hit by the poor weather conditions
during the summer.
Luxury-apparel retailer Net-a-Porter named Lisa Bridgett as its new director of sales and marketing. Bridgett joins from Ralph Lauren, where she was senior director of eCommerce and digital marketing for Europe.
In more movers news, LK Bennett appointed Didier Drouet as chief executive officer. He takes over from Robert Bensoussan, who remains executive chairman.
Electronic components supplier Premier Farnell saw pretax profits halve in the first six months of the year, impacted by restructuring costs and an increasingly competitive marketplace.
The Evening Standard interviews Whistles’ Jane Shepherdson and asks her why she
prefers to hire women.
PredictiveIntent, a provider of predictive analytical technology, has been acquired by marketing automation specialist Emailvision for an undisclosed sum.
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