News roundup–Superdry, River Island, HMV, more


News roundup–Superdry, River Island, HMV, more

As announced in November SuperGroup, the owner of apparel retailer Superdry, has revealed group revenue increased by 16.2 per cent to £158.2 million. In its interim results for the 26 weeks ended 28 October 2012 SuperGroup announced retail revenue was up 26.4 per cent with a like-for-like sales growth of 3.9 per cent, while the internet now represents 10.2 per cent of group revenue, up from 8.2 percent last year. The results also show international expansion was big on the agenda with 37 franchise and licensed stores opening in the period, including a store opening in India and new websites being launched in Canada, Italy, Switzerland and Spain.

River Island has launched a number of new brands online and in selected stores across the country. The exclusive collaboration sees River Island stock a range of swimwear and cover ups from Pacha, premium loungewear from Dirty Roller and men’s apparel from University of Nowhere.

Following a warning that sales were down almost 12 per cent in September, the Telegraph reports entertainment retailer HMV is being backed over the vital Christmas trading period with funding of around £40 million from its suppliers. The report states that HMV has secured greater access to music and film suppliers’ back catalogues and is buying stock on consignment, meaning the retailer pays only for products if it sells them.

The Financial Times analyses Tesco and reports that recovery in the UK is vital for the supermarket giants future success. It notes Tesco is spending £1 billion refreshing its UK stores, hiring staff, cutting prices, changing products and heavily pushing a family-based range of Christmas adverts.

Shoe retailer Russell & Bromley has launched its first eCommerce store in time for Christmas, powered by the Venda eCommerce platform. This is Russell & Bromley’s first foray into online selling and the company has grand ambitions for the site to become its best-selling store.

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