Next Directory, the home shopping arm of the
homewares and apparel chain Next, delivered a
16.4 per cent rise in sales to £1.09 billion, offsetting a
1.4 per cent decline in retail sales for the year ending January
2012. What’s more, profits at the direct division rose 18.3
per cent, from £221.9 million to £262.6 million. At the
retail arm, profits dipped 1.6 per cent to £328.8 million.
Next Directory now accounts for 32 per cent of group sales and 44
per cent of operating profits.
Sales at Next-owned fashion retailer Lipsy were
up 23 per cent to £54.9 million in the year ending January
2012. The business also delivered a 30 per cent increase in
profits, from £1 million last year to £1.3 million.
Online sales increased by 70 per cent to £9 million and,
while the company says sales through the Lipsy website increased,
the biggest growth came from a Lipsy tab on the Next site. This
brings Lipsy products to many more potential customers, along
with the Next Directory customer service offer.
Total sales at Kingfisher UK & Ireland were flat
at £4.3 billion in the year to January 2012. Retail profit
grew by 11.6 per cent benefiting from continued gross margin and
cost initiatives.
At B&Q UK & Ireland, the new in-store trade-only
“TradePoint” offer continues to grow. B&Q says it
attracted 800,000 customers this way-four times the number
previously registered with the B&Q Trade Discount Card. This
growing database enables B&Q to identify and directly market to
this important customer segment for the first time. Overall, B&Q
UK & Ireland delivered sales of £3.8 billion, a decline of
0.9 per cent. Sister company Screwfix saw sales
grow 8.2 per cent to £518 million.
Following the suspension of its shares yesterday, it looks like
it’s game over at Game as the retailer files a
notice to appoint administrators.
Chancellor George Osborne delivered his budget yesterday,
The Telegraph summarises the key points.
US fashion retailer J.Crew is expanding its
international distribution from 29 to 107 countries, reaching
customers throughout Asia, Australia, Europe, the Middle East and
South America; transacting in 41 local currencies.
United Parcel Service (UPS) has agreed to acquire TNT Express in
a transaction that values TNT Express at €5.16 billion
($6.77 billion). The merger will create a logistics behemoth with
annual revenues of more than €45 billion ($60 billion) and
an enhanced, integrated global network.
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