ASOS has maintained its impressive sales growth with total retail sales up 31 per cent to £141 million in the three months to 31st August. ASOS delivered a rise of 15 percent in UK sales in the fourth quarter, reaching £49.9 million. International was once again the star performer, with sales up 42 per cent to £91.2 million, representing 65 per cent of sales.
Extending opening hours over the Olympic Games did nothing for Lakeland, its finance director told the Financial Times. Bob Granger told the newspaper that staying open for longer during August “increased costs for no benefit”. This added to an already challenging period for the kitchenware retailer. It reported a 33 per cent drop in pretax profit to £7.2 million in 2011. Sales were up just 2 percent to £80.2 million. The article notes that the company group is still generating cash, rising from £12 million in 2010 to £14 million last year. However, it also writes that Lakeland is proposing to reduce the dividend paid to its shareholders-the three Rayner brothers-to £625 a share, or £1.3 million in total.
Tesco has partnered with US online retailer Wayfair to offer an expanded range of home goods through Tesco Direct. The partnership extends Wayfair’s reach in the UK, offering the American company “an unparalleled global channel to reach millions of new households in the UK”, says Wayfair cofounder and chief executive Niraj Shah. Wayfair currently offers 20,000 products on Tesco Direct and plans to increase that number to 60,000 by end of the year.
French Connection has unveiled its turnaround plans after revenues fell 7 per cent to £96 million in the half year ending July. It also racked up pretax losses of £6.3 million in the half-year, compared with a profit of £700,000 in 2011. Among the initiatives is a greater focus on improving customer service in store to increase basket and average order values. French Connection will also develop and improve its product ranges; improve reaction speed to changing trends; close lossmaking stores and strengthen the management team to help bring about these enhancements.
Leading charities Leukaemia and Lymphoma Research have launched a new online shop, built on the Drupal platform and integrated with the Prism DM to provide warehouse management and MIS modules.
The Telegraph reports that Dickson Poon, chairman and controlling shareholder of luxury-goods retailer Harvey Nichols received a £6 million payout after a 19 per cent rise in profits.
According to the latest figures from the IMRG Capgemini eRetail Sales Index, British shoppers spent £5.8 billion online in August, a year-on-year growth of 11 per cent, but an 11 per cent decline on July.
Amazon is folding its Endless website and amalgamating the apparel offering into the main Amazon.com website. The site closes on 27th September.
JD Sports is planning to close more Blacks Leisure stores after the division hindered profits, reports the Scotsman. Ninety-three of the weakest performing stores have already closed, with a further 50 under threat.
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