Luxury clothing brand Burberry said an 'exceptional' performance at its retail division was partly helped by investment in digital and growth of its online business.
The London-based firm said in a London Stock Exchange announcement that retail revenue increased 18 per cent to £339 million in the 13 weeks to the end of June. Comparable store sales, those open at least a year, climbed 13 per cent.
Burberry said its stores benefited from well-received Spring and Summer ranges, broad-based growth across regions, offline and online; and its investment in its digital platform.
Its wholesale business fared less well in the period and revenues declined by about 10 per cent as economic conditions in some of its markets worsened.
Thursday, 11 July 2013
Online Bike Boost for Halfords Pushes Web Sales Up 15.5%
Car and bike specialist Halfords said it received a boost over the past three months from sales of bikes and cycling accessories over the internet.
The retailer said internet sales increased by 15.5 per cent with half of all online revenue coning from sales at its cycling division.
Halfords has increased the number of cycling accessories and clothing available online following Britain's success last year at the Olympics and the Tour de France.
Total sales at Halfords increased 8.8 per cent, including revenue from its Autocentres business. Like-for-like sales at its Halfords stores also increased 8.8 per cent. Like-for-like sales at its cycling division increased 15.5 per cent boosted by online sales and a 32.1 per cent increase at its bike maintenance service.
The retailer said internet sales increased by 15.5 per cent with half of all online revenue coning from sales at its cycling division.
Halfords has increased the number of cycling accessories and clothing available online following Britain's success last year at the Olympics and the Tour de France.
Total sales at Halfords increased 8.8 per cent, including revenue from its Autocentres business. Like-for-like sales at its Halfords stores also increased 8.8 per cent. Like-for-like sales at its cycling division increased 15.5 per cent boosted by online sales and a 32.1 per cent increase at its bike maintenance service.
New York Lingerie Site Adore Me Raises $8.5 Million
The New York-based lingerie web site Adore Me has raised $8.5 million (£5.6 million) for expansion after significant growth since its launch last year.
The firm uses a subscription service, taking women's sizes and delivering a new set of underwear each month.
It is understood to have grown by 40-50 per cent month on month since from launch last year to the early part of this year and made its 100,000th shipment in less than a year, according to Techcrunch.
Investments from Upfront Ventures, Mousse Partners and Redhills Ventures take the total funds raised to $11.2 million.
The firm uses a subscription service, taking women's sizes and delivering a new set of underwear each month.
It is understood to have grown by 40-50 per cent month on month since from launch last year to the early part of this year and made its 100,000th shipment in less than a year, according to Techcrunch.
Investments from Upfront Ventures, Mousse Partners and Redhills Ventures take the total funds raised to $11.2 million.
Wednesday, 10 July 2013
BRC Calls Truce Over Online Tax Row
The British Retail Consortium has told its members to call a truce and cease the public row over calls for an online tax.
The group on Monday held a meeting of finance directors and other representatives from its 30 largest retailers to thrash out details of its proposal to the government on business rates.
However, the group is understood to have broadly agreed that a row over online tax has become increasingly 'damaging'. The BRC is now hoping to devise a proposal that will encompass online retailers - Asos, for example, is a member - rather than penalise them.
In a statement sent to the Guardian after the meeting, the BRC's director general Helen Dickinson said: 'There was consensus that the idea of seeing parts of the retail industry in conflict isn't in the interests of the industry and, most importantly, it isn't what customers want.'
The group on Monday held a meeting of finance directors and other representatives from its 30 largest retailers to thrash out details of its proposal to the government on business rates.
However, the group is understood to have broadly agreed that a row over online tax has become increasingly 'damaging'. The BRC is now hoping to devise a proposal that will encompass online retailers - Asos, for example, is a member - rather than penalise them.
In a statement sent to the Guardian after the meeting, the BRC's director general Helen Dickinson said: 'There was consensus that the idea of seeing parts of the retail industry in conflict isn't in the interests of the industry and, most importantly, it isn't what customers want.'
A Third Of Adults Selling Unwanted Goods Online To Bolster Finances
A third of adults sold unwanted belongings online last year to make cash and help bolster finances.
The number of adult that sold goods for the first time on sites like Ebay and Gumtree increased by 8 per cent or 3.5 million people taking the total to 31 per cent, according to a survey by Standard Life.
Just over one in four adults, or 29 per cent, bought second hand products such as furnityre, gadgets, clothes and cars to save money on purchases, Standard Life said.
The research found that households with children are much more likely to sell unwanted items (41 per cent) than those without (28 per cent). It also indicated that women are more likely to be cashing in on their old possessions (33 per cent) than men (28 per cent).
The number of adult that sold goods for the first time on sites like Ebay and Gumtree increased by 8 per cent or 3.5 million people taking the total to 31 per cent, according to a survey by Standard Life.
Just over one in four adults, or 29 per cent, bought second hand products such as furnityre, gadgets, clothes and cars to save money on purchases, Standard Life said.
The research found that households with children are much more likely to sell unwanted items (41 per cent) than those without (28 per cent). It also indicated that women are more likely to be cashing in on their old possessions (33 per cent) than men (28 per cent).
Film Star Will Smith And Others Invest $53 Million In The Fancy
New York-based crowd-sourced shopping site The Fancy has raised $53 million (£36 million) from investors including film star Will Smith.
The funding was also raised from Ukrainian-born, US investor Len Blavatnik and credit card company American Express valuing the company at $600 million. Fancy.com currently takes about $3 million sales a month, according to Bloomberg.
The site describes itself as 'part store, blog, magazine and wish list' and allows customers to buy or mark products they 'fancy' and the most fancied products get promoted to the top of the site.
New products can find their way onto the site because potential shoppers post photographs of products they would like to buy. The Fancy takes 10 per cent of the sale.
The funding was also raised from Ukrainian-born, US investor Len Blavatnik and credit card company American Express valuing the company at $600 million. Fancy.com currently takes about $3 million sales a month, according to Bloomberg.
The site describes itself as 'part store, blog, magazine and wish list' and allows customers to buy or mark products they 'fancy' and the most fancied products get promoted to the top of the site.
New products can find their way onto the site because potential shoppers post photographs of products they would like to buy. The Fancy takes 10 per cent of the sale.
Tuesday, 9 July 2013
M&S Says Online Sales Rise 30%
Stores giant Marks & Spencer said this morning that online clothing and home sales increased 29.9 per cent in the past three months despite a poor overall performance at its stores.
The company said that like-for-like sales in the 13 weeks to the June 29 increased 0.3 per cent. That included a 1.8 per cent increase in food and a decline of 1.6 per cent in general merchandise, which includes clothing and home.
'M&S.com had a very strong quarter, with customers responding well to the improvements made to the service proposition such as free next day delivery to stores,' the company said. It does not sell food online other than orders of party food to collect in store.
Chief executive Marc Bolland described the food performance as 'another excellent performance'. He added: 'In general merchandise we have seen some improvement, despite difficult trading conditions and further intensification of promotional activity in the market.'
The company said that like-for-like sales in the 13 weeks to the June 29 increased 0.3 per cent. That included a 1.8 per cent increase in food and a decline of 1.6 per cent in general merchandise, which includes clothing and home.
'M&S.com had a very strong quarter, with customers responding well to the improvements made to the service proposition such as free next day delivery to stores,' the company said. It does not sell food online other than orders of party food to collect in store.
Chief executive Marc Bolland described the food performance as 'another excellent performance'. He added: 'In general merchandise we have seen some improvement, despite difficult trading conditions and further intensification of promotional activity in the market.'
A Fifth Of Credit And Debit Card Spending Is Now Online As Internet Sales Surge In June
Spending on the internet surged in June as figures from Barclaycard and the British Retail Consortium suggest consumers are feeling more optimistic.
Barclaycard, which tracks about half of all spending, said online sales rose 12.5 per cent last month. According to the figures, released exclusively to the Mail on Sunday, almost one in five pounds spent last month by British consumers on their credit or debit cards was via the internet.
The newspaper said the dramatic impact of the web was most seen in the electronics sector where one third of all spending is now online.
Overall Barclaycard said consumer spending rose for its fastest rate in 18 months rising 5 per cent in June compared to the same month a year earlier. Total consumer spending was up 3.3 per cent in the first-half compared to the same period in 2012, it said.
Barclaycard, which tracks about half of all spending, said online sales rose 12.5 per cent last month. According to the figures, released exclusively to the Mail on Sunday, almost one in five pounds spent last month by British consumers on their credit or debit cards was via the internet.
The newspaper said the dramatic impact of the web was most seen in the electronics sector where one third of all spending is now online.
Overall Barclaycard said consumer spending rose for its fastest rate in 18 months rising 5 per cent in June compared to the same month a year earlier. Total consumer spending was up 3.3 per cent in the first-half compared to the same period in 2012, it said.
Indian Shoppers Get a Taste For Food Delivery
The Indian food delivery market is expected to grow 45 per cent in the next four years as shoppers in the country get a taste for buying food online.
Harminder Sahni, managing director of consultancy firm Wazir Advisers, told the Economic Times of India that the Indian grocery delivery market will grow from a small base of about $30 million (£20.1 million). That compares to a $370 billion food and grocery market across the country.
Sahni said to the newspaper there were reasons the market remained small compared to the size of the country. 'Indians have a habit of shopping daily for fresh produce, especially veggies, that they tend to pick and feel before purchasing. A reason why they would resist buying veggies and fruits online.'
However, several sites have appeared catering for the new trend including Grocerywaale.com, O!mart.com, Bigbasket.com, Mygrahak.com and ZopNow.com which are hoping to capitalise on the consumers fed up with making the traip to the shops.
Harminder Sahni, managing director of consultancy firm Wazir Advisers, told the Economic Times of India that the Indian grocery delivery market will grow from a small base of about $30 million (£20.1 million). That compares to a $370 billion food and grocery market across the country.
Sahni said to the newspaper there were reasons the market remained small compared to the size of the country. 'Indians have a habit of shopping daily for fresh produce, especially veggies, that they tend to pick and feel before purchasing. A reason why they would resist buying veggies and fruits online.'
However, several sites have appeared catering for the new trend including Grocerywaale.com, O!mart.com, Bigbasket.com, Mygrahak.com and ZopNow.com which are hoping to capitalise on the consumers fed up with making the traip to the shops.
John Lewis International Online Strategy Takes Flight
Department store John Lewis will use its new shop at Heathrow Airport's Terminal 2 as a springboard for its international online strategy.
The shop, which opened on June 4, will act in a similar way to flagship shops run by brands on London's Bond Street and Regent Street that act as showrooms for wealthy international visitors to London.
The 3,600 square foot John Lewis store means that passengers heading for the majority of the 33 countries where John Lewis delivers overseas will pass the shop. Those countries account for three quarters of Terminal 2 destinations.
The shop includes John Lewis own brand and designer collaborations as well as home, fashion, gifts and seasonal ranges.
The shop, which opened on June 4, will act in a similar way to flagship shops run by brands on London's Bond Street and Regent Street that act as showrooms for wealthy international visitors to London.
The 3,600 square foot John Lewis store means that passengers heading for the majority of the 33 countries where John Lewis delivers overseas will pass the shop. Those countries account for three quarters of Terminal 2 destinations.
The shop includes John Lewis own brand and designer collaborations as well as home, fashion, gifts and seasonal ranges.
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