Including B&M’s ambitious new store opening programme across the next 18 months.
The Source rounds up some of the key retail stories of the week.
Retail sales (by value) jumped 6.2% year on year in October, according to the latest Office for National Statistics data. Volumes and values grew across all retail sectors (compared to last year), with the biggest increase coming from online retail – up 26.8% year on year, marking the highest growth rate since April 2002. Non specialist stores saw sales values increase 6.2%, while grocers grew 3.2%.
Value retailer B&M is looking to open some 80 new stores over the next 18 months. It is already on track to have opened 50 new stores across its financial year, which ends in March. The retailer is confident it can capitalise on the Brexit impact, as shoppers will be looking to seek out a bargain.
Sainsbury’s has followed up last year’s successful Christmas campaign starring Mog the Cat with a stop-frame animation with the emphasis firmly on ‘sharing the gift of time’. Voiced by James Corden, the ad focuses on ‘Dave’ who works in a toy factory and wants to find the greatest gift for his family – time. A number of products, including a gingerbread Dave and The Greatest Gift film animation kit, are being sold in aid of Great Ormond Street Hospital Children’s Charity.
Asda has posted its ninth consecutive quarter of dropping like for likes – its third quarter like for likes dipped 5.8% in the three months to September 30. Net sales during the period also dropped by 3.8%.
John Lewis enjoyed sales growth of 1.8% to £112.4 million for the week to November 12. Fashion was the strongest performer, with the cold weather contributing to a 4.5% uplift in sales.
Tesco is aiming to open further Arcadia concessions in stores, according to Retail Week. The retailer already has 14 Dorothy Perkins, Burton, Evans and Wallis concessions across five stores. It is now looking to install around six more concessions in four stores by the end of the year.
Ted Baker saw third quarter group sales increase 14.8% for the 13 weeks to November 12. Sales were helped along by the retailer’s continued overseas expansion, strong online and wholesale sales and its retail performance. Founder Ray Kelvin said he remained “focused on the long-term development of Ted Baker as a global lifestyle brand”.
Gap has seen its sales slip 1.5% to $3.8 billion in its third quarter, with like for likes down 3%. Group profits were down 18% to $204 million during the period – this is compared with $248 million for the same period a year ago.
Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter.
