Online fashion retailer ASOS has reported an increase of 47 per cent in sales for the period of six months ending September 30, but added that soaring unemployment among youth in UK has affected its sales adversely.
ASOS boasted that overseas shoppers now accounted for almost a quarter of all its business.
ASOS said trading during the six months to 30 September is strong as well as in line with experts' projections.
The recession-hit Blacks Leisure, a Britain-based outdoor goods retailer, is set to shut 89 loss-making stores, in a bid to arrest further losses in the business and to get support from lenders for its capital needs. The move will lead to cut around 50 head office jobs, worsening the already grave employment scenario.
Blacks Leisure, having over 400 stores including the Blacks Outdoor and Millets chains, added that its business is under pressure and a lot needs to done to put it on track.
UK retail sales jumped unexpectedly in September after reporting fall in the past four straight months.
Experts are expecting a similar picture for the month of October too, signifying signs of recovery.
Survey by the Confederation of British Industry revealed that 39 per cent of the retailers said that volume of sales rose in September, while 36 per cent said volume of sales plunged.
The resulting balance of 3 per cent as compared with minus 16 per cent in August is the first positive figure regarding sales volume since April.
Leading supplier of cheap and chic fashion, New Look, may hit the stock market with an Initial Public Offer (IPO), as disclosed by sources.
The high-street fashion chain, owned by founder Tom Singh and private equity groups Apax and Permira, is said to be discussing the idea of an IPO at primary stages; and a formal decision may be taken for £1.7bn listing before the end of the year.
UK retail sales flattened in August from July as shoppers remained close fisted due to soaring unemployment and gloomy economic conditions.
Data compiled by the Office for National Statistics revealed that annual rate of rise in retail sales dropped to 2.1 per cent in August as compared with 2.9 per cent in July.
However, retail sales in August soared 2.1 per cent in august as compared with the same period of 2008.
The monthly increase of 0.2 per cent in retail sales was worse than analysts' projections of 2.8 per cent annual increase.
Spanish fashion retailer Inditex SA reported on Wednesday better-than expected profits for the first half of the year.
Inditex SA, the owner of the fashion chain Zara, posted net profit of 375 million euros for the period of six months to July, well above analysts' projections of 349.5 million euros.
However, company's net profit plunged by 7.6 per cent in the first half from a year ago, mainly because of new store openings. But total sale increased by 9 per cent in the local currencies to 4.86 billion euros.
British retailer Marks & Spencer Group has appointed its head of food division, John Dixon, to its executive board, in a move that strengthened his chance of succeeding Sir Stuart Rose as chief executive next year.
Sir Stuart Rose has been facing criticism since he combined the roles of chief executive and chairman against corporate governance guidelines.
Greg Lawless, an analyst, commented about Mr. Dixon, "He has been put in the running for the top job if it is an internal candidate."
First-half profit for William Morrison Supermarkets Plc, the smallest of the four main U. K. food retailers, grew 42 percent, since the customers from larger competitors were lured by price cuts and revamped fresh-food aisles.
While reporting a 16% plunge in five-month sales, luxury goods maker Compagnie Financiere Richemont SA, on Wednesday, met forecasts and specified it is careful in spite of the indications of slowdown in the fall of its demands.
As per Chairman Johann Rupert, "We would prefer to wait until we have more evidence of a broader economic recovery before speculating on the likelihood of a better second half, particularly when it comes to the wholesale business."
Sports Direct International, UK's biggest sporting goods retailer, has lifted profit forecast for the full-year after witnessing an increase in sales.
Sports Direct, the owner of the Sports World, said it expected to pocket underlying earnings of over £150 million as compared with earlier forecast of at least £140 million.
Sports Direct, which has over 350 stores in the UK, had generated a profit of £137 million during the previous year.
Fresh figures compiled by the British Retail Consortium suggested that food inflation slipped for the fifth consecutive month to 2.3 per cent in August as compared with 3.8 per cent in July.
UK retail sales dropped 0.1 per cent in August as compared with the same period last year, signifying weak consumer spending despite improved economic indicators.
John Lewis, the department store chain, has returned to growth in August as it reported an increase of 12 per cent in sales for the week ended August 29, putting an end to pathetic trading figures.
Awful weather and a bank holiday along with the end of the school holidays backed John Lewis to report a 2.4 per cent rise in sales during the week to 29 August.
John Lewis said its sales jumped to £51.5 million from £50.3 million.
Retail sales fell slightly faster than expected for the consecutive fourth time in August.
The fresh distributive trades survey conducted by the CBI showed that that a balance of -16 per cent of retailers said sales fell in August, whereas analysts were expecting a -13 per cent fall.
Around 34 per cent of the retailers surveyed witnessed an increase in sales volumes against 51 per cent who said sales volumes dropped.
August figure were worse than the July figure of -15 per cent.
Tesco, the supermarket chain, has created more than ninety jobs at its outlet in east Belfast, Northern Ireland.
Tesco has received around 1,500 applications for the aforesaid jobs.
Tesco in Knocknagoney, which has been expanded from 52,000 to 78,000 sq ft, had absorbed supermarket chain's extra staff.
Gary Mills, director of Tesco Northern Ireland also informed that during the past six-month period Tesco's three Extra stores in Northern Ireland at Carrickfergus, Newtownbreda and now Knocknagoney had taken on 275 people.
Department store chain John Lewis said its sales dropped 1.4 per cent to settle at 46.5 million pounds during the week ended August 15.
It was John Lewis' second consecutive week of lower sales.
John Lewis said electricals and home technology sales were down by 2.1 per cent, while the sales in home department were down by 3.6 per cent, with fashion sales flat. Sales had plunged 5.3 per cent in the previous week.