We’ve delved into the latest crop of trading figures in search of ecommerce and multichannel trends, strategic insights and innovations in the way retailers are selling – and customers are buying – across sales channels. Here we’re focusing on the latest updates from fashion and clothing retailers.
The shape of Christmas trading
Asos, a Top50 retailer in IRUK Top500 research, enjoyed record sales over the Cyber weekend and the Christmas trading period.
Overall, it said in a trading statement to the four months to December 31, group revenue rose by 36% (or 30% in constant currency) to £621.3m, and UK sales by the same proportions to £605.7m. UK retail sales of £244m were 18% up on last year, while international sales rose by 41% to £361.7m.
Chief executive Nick Beighton said: “Following record sales over Cyber weekend and the Christmas trading period, I’m pleased to report a strong start to the year. A 50% plus increase in international sales is a standout performance. UK sales growth at 18% was a strong performance in a more promotional market.”
Multichannel retailer JD Sports Fashion [IRDX RJDS], a Top100 trader in the IRUK Top500, reported “positive trading” in the second half of its year, which included the Christmas trading period. It says it expects full-year profits to be up to 15% ahead of market expectations.
Executive chairman Peter Cowgill, said: “I am delighted to report that we have maintained our excellent momentum from the first half of the year. Whilst we acknowledge that it would be unreasonable to expect like for like sales growth to be maintained at recent levels for a fifth consecutive year, we are confident that both domestically and internationally, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.”
Chief executive Colin Porter said: “This strong outcome over the important Christmas trading period reflects the growing awareness and strength of the Joules brand.
“The success of our disciplined, multi-channel, sales strategy across this important trading period is made possible by the dedication and commitment of our team.”
Founder and chief executive Ray Kelvin said: “The strength of the brand and our multiple channels of distribution leave us well placed to continue the development of Ted Baker as a global lifestyle brand.”
The move online
Formalwear hire and retail business Moss Bros, a Top100 retailer in the IRUK Top500, says online sales in the 23 weeks to January 7 were 24.9% up on the same time last year. Overall retail sales made up 90% of group revenue and grew by 6.8%, on a like-for-like basis, during the period. Online alone accounted for 11% of group revenue.
Chief executive Brian Brick said: “Ongoing investment in new and refitted stores, alongside improved omni-channel capabilities have enabled us to continue the progress we made in the first half of the year.”
Supergroup [IRDX RSGR], the retailer behind the Superdry fashion brand, a Top50 retailer in the IRUK Top500, said 21.6% of retail sales of £215.2m in the six months to October 29 (25% up on the same time last year) took place online. That proportion is up from 19.2% a year ago.
Chief executive Euan Sutherland said sales had grown across all channels in the half-year to October 29. “Our focused strategy continues to deliver with new product innovations building sales, a strong pipeline of new international store opportunities, both owned and via franchise relationships, and clear momentum in our ecommerce proposition,” he said. Pre-tax profits came in at £12.7m, up from £11.5m a year earlier.
Asos’ Nick Beighton says the fast fashion retailer will invest to deal with fast sales growth. “With sales for the year now expected to be up by c.25 to 30%, we’re accelerating our infrastructure investment to handle that growth,” he said. “ASOS remains well set to meet its longer-term ambitions as a result of the hard work and commitment of the team”.
Mentioned in this piece…
Ted Baker is a British clothing retail company.
Ted Baker plc is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Ted Baker’s managing director, Ray Kelvin, started his first store in March 1988 in Glasgow, and opened further stores in Manchester, Plymouth, and Nottingham. (more…)