Retail Navigator AnalysisFrasers Group (Financials)
Frasers Group reported a 0.9% decline in sales to £5,537.7m in the 52 weeks ended 28 April 2024 (FY2023). Chief executive Michael Murray commented: “This has been a break-out year for building Frasers’ future growth. As well as delivering a strong trading performance, particularly from Sports Direct, we made significant progress with our Elevation Strategy.
Retail Navigator AnalysisWatches of Switzerland Group (Financials)
Amid a “more challenging market” sales at Watches of Switzerland Group slipped 0.3% year on year on a reported basis to £1.54bn in the year to 28 April 2024 (FY2023) as the retailer hailed market share gains in both the UK and US.
Retail Navigator AnalysisMarks & Spencer (Strategy)
Marks & Spencer unveils its first clothing and beauty store at Battersea Power Station, London. The 8,400 sq ft store carries a curated range of womenswear, menswear and beauty, with a brand offer including Jaeger and Autograph.
Retail Navigator AnalysisMorrisons (Strategy)
Morrisons plans to use Ocado’s fulfilment centres to support its shift to more in-store fulfilment. Morrisons will bolster volumes via Ocado’s fulfilment centre in the Midlands and extend its store network where ecommerce orders are processed through Ocado’s AI-powered in-store technology.
Retail Navigator AnalysisIkea (Strategy)
Ikea opens a pop-up store in London celebrating its iconic blue Frakta bag, situated next door to its new Oxford Street site. The “Hus of Frakta” offers bag personalisation, curated products, and reflects the retailer’s commitment to affordable, stylish design. The pop-up will be open until March 2025.
Retail Navigator AnalysisThe Fragrance Shop (Financials)
Revenues increased 5.9% to £182.8m at The Fragrance Shop (TFS) in the 52 weeks to 30 March 2024 (FY2023). The retailer said all channels traded well during the year, opening 10 new stores while rationalising its existing store estate, shuttering four stores in the year. It ended the period with 222 locations including the successful opening of its flagship on Oxford Street, London.
Retail Navigator AnalysisLidl (Financials)
Lidl UK turnover rose by 16.9% to almost £11bn in the financial year ended 29 February 2024 (FY2023), from £9.3bn the previous year. EBIT grew to £220.8m in FY2023, compared to £28.5m the year before.
Retail Navigator AnalysisWHSmith (Strategy)
WHSmith is set to significantly expand its food offering in 2025. Building on the success of its first own-label food-to-go range, the retailer plans to introduce a new bakery range under the Smith’s Family Kitchen brand and roll out its Smith’s Kitchen café format to more stores.
Retail Navigator AnalysisPets at Home (Financials)
Group revenue in the 52 weeks to 28 March 2024 (FY2023) increased by 5.2% year on year to £1.48bn. Total revenue comprised £1.33bn (+4.0%) from Retail (including products bought online and in store, pet sales, grooming services and insurance products) and £146.5m (+16.8%) from its veterinary business, the Vet Group, (including general practices and the veterinary telehealth business).
Retail Navigator AnalysisGymshark (Strategy)
Gymshark launches its Innovation Lab in partnership with L Marks, aiming to identify and support innovative startups that can bring “real value” to the retailer and its community. A 10-week programme will focus on two key areas: supply chain optimisation and robotics solutions.