🚨 Retail Watch: Primark & John Lewis Sales Update! 🚨
We’re all keeping a close eye on the high street as shopping giants Primark and John Lewis prepare to reveal their latest sales figures! 🛍️
First up, Primark’s parent company, Associated British Foods, is set to release their full-year trading update this Wednesday. Meanwhile, the John Lewis Partnership will share its half-year results on Thursday.
It’s a tough time in retail, with many warning of the pinch from rising costs. Primark is anticipated to show a small rise in sales after a previous downbeat forecast due to reduced consumer spending. However, a sunny boost helped lift sales for their spring and summer collections. 🌞
Richard Hunter from Interactive Investor praises Primark as AB Foods’s “jewel in the crown,” noting its significant share in overall revenues. Yet, cautious consumer attitudes and fierce competition from online giants like Shein and Temu pose big challenges. Primark’s expanding store presence could help cushion these blows.
Interesting times for John Lewis too! Despite a pre-tax loss early in 2024, there was a year-end profit, thanks largely to a bumper Christmas season. However, Nick Bubb, city retail analyst, predicts tough times ahead for them too. The group continues to battle cost pressures and invest heavily in their business transformation.
But there’s a glimmer of hope as Waitrose, part of the John Lewis family, reported a near 5% increase in spending over the summer compared to last year. 🌟
As shoppers, what do you think about the current high street landscape? How has online shopping changed your habits? Let’s chat in the comments! 🗨️
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