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Clothing retailers' sales decline again, Kantar criticises discounting

Mon, 17th Oct 2016 15:04

(ShareCast News) - UK clothing retailers have seen sales fall for four months in a row, according to a survey published on Monday that criticised the industry's habit of over-buying and deep discounting.Since June saw the first fall in the value of the UK fashion market, data from Kantar Worldpanel for the 52 weeks to 25 September said four months of consecutive sales decline has knocked nearly £700m from the value of the market compared to last year."Fashion retailers are still following the same patterns of over-buying and deep discounting and consumers are increasingly reluctant to pay full price," said Kantar consumer insight director Glen Tooke."Retailers have responded to falling sales by investing less in their lines, when what they need to be doing instead is addressing these problems more proactively. Rather than chasing after the same 'micro trends' as every one of their competitors, they need to work on understanding what their customers really want and to fulfil their needs."He said the recent decline has been driven by a fall in the frequency of buying by consumers, which has given retailers fewer opportunities to encourage shoppers to part with their cash."As such, they need to ensure that stock availability is as high as it can be - online and offline - and that the shopping experience is based on what the customer actually wants, not what the retailer thinks they should experience."
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19 Mar 2015 13:44

FTSE 250 movers: Retailers and energy stocks surge, ex-dividend insurers lower

Supergroup made strong gains after Investec said a focus on retail execution and UK profit maximisation was a "major opportunity". The broker reiterated its 'buy' rating, with analyst Kate Calvert adding: "We see material growth opportunities, not only in maximising UK profitability by optimising it

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12 Mar 2015 17:30

Thursday broker round-up

Asos: Cannacord Genuity raises target to 3,250p from 2,520p and reiterates hold. Cambian Group: Cannacord Genuity lifts target to 311p from 294p and reiterates buy. BP: JP Morgan raises target to 410p from 400p and reiterates underweight. Royal Dutch Shell: Investec reiterates hold. Supergroup: C

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25 Feb 2015 14:21

FTSE 250 movers: Petrofac beats analysts' expectations, AO World and Supergroup drop

Petrofac topped the risers as profits came in above analysts' expectations, albeit towards the bottom of the company's own guidance. Chief executive Ayman Asfari said the company was well positioned to deal with the oil industry's declining prices, as the group ended the year with a record-breaking

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25 Feb 2015 11:38

UK WINNERS & LOSERS: AO World Shares Dive On Profit Warning

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25 Feb 2015 09:56

UPDATE 1-SuperGroup's finance chief quits after being declared bankrupt

(Adds details, analyst reaction, shares) By Paul Sandle LONDON, Feb 25 (Reuters) - SuperGroup Plc, the owner of the Superdry fashion brand, said on Wednesday its finance chief Shaun Wills had quit after being declared bankrupt two weeks ago. Wills, who is a qualified accountant,

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25 Feb 2015 08:33

UK MORNING BRIEFING: Weir Group Falls On Poor 2015 Outlook

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25 Feb 2015 08:00

Supergroup boardroom upheaval continues as CFO replaced

In four months under the whip of new chief executive Euan Sutherland, Supergroup has parted company with half the executives on the board after chief financial officer Shaun Wills was issued marching orders on Wednesday. Wills' departure, which was branded "bizarre" and a "genuine shock", comes just

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25 Feb 2015 07:48

SuperGroup CFO Leaves After Being Declared Personally Bankrupt

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25 Feb 2015 07:25

SuperGroup's finance chief leaves after he was declared bankrupt

LONDON, Feb 25 (Reuters) - SuperGroup plc said its finance chief Shaun Wills had stepped down after the company learnt he was the subject of a personal bankruptcy order earlier this month. The owner of the fashion brand Superdry said on Wednesday Nick Wharton, previously chief executive of

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12 Feb 2015 12:13

Supergroup surprises as COO squeezed out

Supergroup has parted company with chief operating officer Susanne Given, with the shock announcement sending the shares lower on Thursday afternoon. Given has departed with immediate effect "to explore other opportunities", less than four months since new chief executive Euan Sutherland took the re

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12 Feb 2015 09:33

UPDATE 1-SuperGroup operations chief abruptly leaves

(Adds detail, spokesman, analyst comment, shares) LONDON, Feb 12 (Reuters) - SuperGroup, the British firm behind the Superdry fashion brand, is parting company with its chief operating officer four months after it recruited the former boss of the Co-op to be its new chief executive. T

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12 Feb 2015 07:35

SuperGroup COO to leave firm

LONDON, Feb 12 (Reuters) - SuperGroup, the British firm behind the Superdry fashion brand, has parted company with its chief operating officer. The firm said on Thursday that Susanne Given, who joined SuperGroup in 2012, has stepped down from the board as a director with immediate effect an

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12 Feb 2015 07:21

SuperGroup COO Susanne Given Leaves Company

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10 Feb 2015 15:50

Superdry clothing stores to open in Russia

MOSCOW, Feb 10 (Reuters) - Azerbaijan's PNN Group will open two stores selling SuperGroup's Superdry clothing label in Russia in the coming months, despite gloomy expectations for consumer sentiment due to a slump in the rouble and a foundering economy. SuperGroup said two franchised stores

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9 Feb 2015 13:51

FTSE 250 movers: Miners and oil companies trading higher, Halma hit by downgrade

Halma took its biggest one day fall since May 2010, as JP Morgan downgraded the stock from 'neutral' to 'underweight'. Man Group was among the fallers despite an increased price objective from analysts at Liberum Capital, from 145p to 213p. Polymetal International and Kaz Minerals were putting in d

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