The Hut Group (THG) swung to an operating loss in its 2020 financial year as one-off items drove it into the red. However, the company’s revenues surged during the period as all divisions outperformed.
The reopening of non-essential shops in much of the UK on April 12 and workers back in their offices mark a big step in the return to normality. It seems that key product categories are likely to benefit.
ASOS released its interim results on Thursday and the fashion e-tail giant confirmed just how strong it is, as its own brands and Arcadia labels boomed. It saw sales rising globally and profits soared.
As Fenwick prepares to reopen, its CEO has predicted “ a good opening, but a slow recovery as well”. Yet overall, he’s confident it's on the right track and can do well in the changed retail world of the future.
The UK government has confirmed that non-essential stores, beauty and hair salons will be able to open as planned in England on April 12. And John Lewis is the first big name to share its reopening plan.
Burberry is continuing to focus on tech in the all-important Asia market and has just announced a new digital project. It has worked with Elle Digital Japan to create an “interactive virtual replica of its Ginza store”.
There are some mixed signals coming out of the latest consumer research suggesting that the retail bounce-back could be delayed until late summer. But fashion and beauty should still get a boost from next month.