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You can find the current article at its original source at https://www.theguardian.com/business/live/2017/jan/12/marks-spencer-tesco-debenhams-primark-jd-sports-flurry-christmas-trading-business-live
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| Marks & Spencer, Tesco, Debenhams, Primark and JD Sports lead flurry of Christmas trading news – business live | Marks & Spencer, Tesco, Debenhams, Primark and JD Sports lead flurry of Christmas trading news – business live |
| (35 minutes later) | |
| 8.41am GMT | |
| 08:41 | |
| Boom! Shares in JD Sports have hit a new all-time high, romping up by 6% to 346p. | |
| That puts it top of the FTSE 250 index of medium-sized companies. | |
| Traders are applauding the firm’s 10% jump in sales over Christmas | |
| 8.38am GMT | |
| 08:38 | |
| And finally, here are those smaller retailers... | |
| Baby goods retailer Mothercare has reported a 1% jump in like-for-like sales in the last quarter, driven by online sales. More here. | |
| Fashion chain SuperGroup says it had a good half-year, with revenues rising to £334.0m, from £254.7m. More here. | |
| Top hat and tails purveyor Moss Bros has posted a 6% jump in like-for-like sales. CEO Brian Brick says “ongoing investment in new and refitted stores” is paying off. More here. | |
| Dunelm, the homewares firm, had a solid but unspectacular festive period with like-for-like sales up 0.2%. More here. | |
| No drama at food wholesale chain Booker Group; it’s on track to hit City forecasts this year. | |
| 8.26am GMT | |
| 08:26 | |
| ASOS boosted by slide in sterling. | |
| Online fashion chain ASOS has reported bumper sales growth over Christmas, up 18% in the UK. | |
| International sales surged by 52%, as ASOS benefits from the weak pound, and the company is now planning to upgrade its systems and processes to handle higher demand. | |
| CEO Nick Beighton says: | |
| “With sales for the year now expected to be up by c.25 percent to 30 percent, we’re accelerating our infrastructure investment to handle that growth.” | |
| Asos posted strong results for the four months to 31 December. Total retail sales rose 36% to £605.7m, and revenues also rose 36%. | |
| 8.20am GMT | |
| 08:20 | |
| Tesco’s shares have fallen by 2.3% in early trading. | |
| That making it the worst-performing member of the FTSE 100, even though it grew sales by 0.7% over Christmas. | |
| Tesco is holding a conference call now, and saying it’s not seen any change in UK consumer spending since the EU referendum. | |
| John Ibbotson of Retail Vision argues that Tesco’s results are encouraging: | |
| “Tesco’s revival continues apace, with a strong Christmas trading period and third quarter.”More ominously for its competitors, Tesco has managed to increase its market share in a period of cut-throat competition. | |
| 8.07am GMT | 8.07am GMT |
| 08:07 | 08:07 |
| Shares in M&S have jumped by almost 5% at the start of trading, as investors cheer its best festive performance for six years. | Shares in M&S have jumped by almost 5% at the start of trading, as investors cheer its best festive performance for six years. |
| That’s makes it the best-performing share on the FTSE 100. | That’s makes it the best-performing share on the FTSE 100. |
| My colleague Zoe Wood explains: | My colleague Zoe Wood explains: |
| Marks & Spencer has ended the long-running slump in sales at is clothing arm with its best Christmas performance for six years. | Marks & Spencer has ended the long-running slump in sales at is clothing arm with its best Christmas performance for six years. |
| The retailer said like-for-like clothing sales were up by 2.3% in the 13 weeks to 31 December. This time last year clothing sales had slumped by nearly 6%. | The retailer said like-for-like clothing sales were up by 2.3% in the 13 weeks to 31 December. This time last year clothing sales had slumped by nearly 6%. |
| M&S chief executive Steve Rowe said “better ranges, better availability and better prices” had helped it improve its performance in a difficult marketplace. | M&S chief executive Steve Rowe said “better ranges, better availability and better prices” had helped it improve its performance in a difficult marketplace. |
| To win back shoppers, Rowe has already cut clothing prices and promised to pay more attention to its most loyal group of shoppers – fiftysomething women he has dubbed “Mrs M&S”. He also slashed the number of promotions run by the store. | To win back shoppers, Rowe has already cut clothing prices and promised to pay more attention to its most loyal group of shoppers – fiftysomething women he has dubbed “Mrs M&S”. He also slashed the number of promotions run by the store. |
| More here: | More here: |
| Updated | Updated |
| at 8.14am GMT | at 8.14am GMT |
| 8.04am GMT | 8.04am GMT |
| 08:04 | 08:04 |
| Online electricals retailer AO World has dampened the mood, despite decent sales growth over Christmas. | Online electricals retailer AO World has dampened the mood, despite decent sales growth over Christmas. |
| AO says that it is cautious about trading conditions, due to | AO says that it is cautious about trading conditions, due to |
| “the uncertain UK economic outlook, currency impacts on supplier pricing and the possible effect on consumer demand” | “the uncertain UK economic outlook, currency impacts on supplier pricing and the possible effect on consumer demand” |
| On the upside, total revenues in the three months to December 31 were up 12.3% year-on-year. But that may not be enough to cheer investors. | On the upside, total revenues in the three months to December 31 were up 12.3% year-on-year. But that may not be enough to cheer investors. |
| CEO John Roberts says: | CEO John Roberts says: |
| Looking ahead we have three months left of the current financial year and are mindful of the uncertain economic outlook. However, we remain confident that our market leading proposition will continue to drive customers to experience the AO Way and enter the New Year excited by the opportunities ahead.” | Looking ahead we have three months left of the current financial year and are mindful of the uncertain economic outlook. However, we remain confident that our market leading proposition will continue to drive customers to experience the AO Way and enter the New Year excited by the opportunities ahead.” |
| AO World warns of uncertain end to year https://t.co/dYitTVH2qd | AO World warns of uncertain end to year https://t.co/dYitTVH2qd |
| 7.55am GMT | 7.55am GMT |
| 07:55 | 07:55 |
| Julia Kollewe | Julia Kollewe |
| JD Sports has also reported strong sales and expects to beat City forecasts for profits in the current year. | JD Sports has also reported strong sales and expects to beat City forecasts for profits in the current year. |
| It said the like-for-like growth of about 10% achieved in the first half had continued in the second half of its financial year to 7 January. | It said the like-for-like growth of about 10% achieved in the first half had continued in the second half of its financial year to 7 January. |
| JD now expects that headline profit before tax and one-off items for the current financial year will exceed analysts’ expectations of £200m by up to 15%. | JD now expects that headline profit before tax and one-off items for the current financial year will exceed analysts’ expectations of £200m by up to 15%. |
| Peter Cowgill, executive chairman, said: | Peter Cowgill, executive chairman, said: |
| “Whilst we acknowledge that it would be unreasonable to expect like for like sales growth to be maintained at recent levels for a fifth consecutive year, we are confident that both domestically and internationally, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.” | “Whilst we acknowledge that it would be unreasonable to expect like for like sales growth to be maintained at recent levels for a fifth consecutive year, we are confident that both domestically and internationally, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.” |
| The trading update did not mention the firm’s investigation into conditions at its Kingsway warehouse near Rochdale after a Channel 4 documentary found workers claiming it was “worse than a prison”. | The trading update did not mention the firm’s investigation into conditions at its Kingsway warehouse near Rochdale after a Channel 4 documentary found workers claiming it was “worse than a prison”. |
| City veteran David Buik reckons JD have outperformed Sports Direct. | City veteran David Buik reckons JD have outperformed Sports Direct. |
| Good numbers from JD Sport - eat your heart out Mike Ashley! | Good numbers from JD Sport - eat your heart out Mike Ashley! |
| Updated | Updated |
| at 7.56am GMT | at 7.56am GMT |
| 7.51am GMT | 7.51am GMT |
| 07:51 | 07:51 |
| City commentators are fairly impressed with the results of Retail Super Thursday. | City commentators are fairly impressed with the results of Retail Super Thursday. |
| Here’s ITV’s Chris Choi: | Here’s ITV’s Chris Choi: |
| Looks like Tesco's fight-back is going well; and at last M&S clothing looking a bit more popular | Looks like Tesco's fight-back is going well; and at last M&S clothing looking a bit more popular |
| The BBC’s Dominic O’Connell points out that M&S’s 2.3% jump in clothing/home sales are flattered by an extra week’s trading - take that out, and it only grew by 0.8%. Still growth, though! | The BBC’s Dominic O’Connell points out that M&S’s 2.3% jump in clothing/home sales are flattered by an extra week’s trading - take that out, and it only grew by 0.8%. Still growth, though! |
| Big result for Steve Rowe @marksandspencer - Christmas clothing sales up 0.8% once you take out extra days trading @BBCr4today | Big result for Steve Rowe @marksandspencer - Christmas clothing sales up 0.8% once you take out extra days trading @BBCr4today |
| The BBC’s Emma Simpson flags up that Tesco is growing market share again, after a five-year haitus: | The BBC’s Emma Simpson flags up that Tesco is growing market share again, after a five-year haitus: |
| Tesco also says its grown its market share for the first time since 2011. | Tesco also says its grown its market share for the first time since 2011. |
| Resolution Group’s Duncan Weldon says the UK consumer seems to be in good spirits over Christmas: | Resolution Group’s Duncan Weldon says the UK consumer seems to be in good spirits over Christmas: |
| Both M&S & Tesco like for like UK sales (and Morrisons yesterday) pointing to a relatively perky UK consumer. | Both M&S & Tesco like for like UK sales (and Morrisons yesterday) pointing to a relatively perky UK consumer. |
| In stores, Tesco served 266 customers every second during its peak trading period at lunchtime on Christmas eve | In stores, Tesco served 266 customers every second during its peak trading period at lunchtime on Christmas eve |
| 7.45am GMT | 7.45am GMT |
| 07:45 | 07:45 |
| Primark has a 'good' Christmas | Primark has a 'good' Christmas |
| Associated British Foods, the firm behind the Primark chain, says that trading across its business was “good” in the last 16 weeks. | Associated British Foods, the firm behind the Primark chain, says that trading across its business was “good” in the last 16 weeks. |
| However, we don’t have any like-for-like figures for Primark. | However, we don’t have any like-for-like figures for Primark. |
| Total sales at Primark were up 11% year-on-year in ‘constant currency terms’, or a chunky 22% in actual currency terms (thanks to the fall in sterling). | Total sales at Primark were up 11% year-on-year in ‘constant currency terms’, or a chunky 22% in actual currency terms (thanks to the fall in sterling). |
| ABF says: | ABF says: |
| The UK performed well. Like-for-like sales for the period were good and market share increased reflecting the strength of our consumer offering. Like-for-like sales for the group were held back by declines, albeit smaller than last year, in Germany and the Netherlands, the latter particularly affected by the rapid increase in selling space. | The UK performed well. Like-for-like sales for the period were good and market share increased reflecting the strength of our consumer offering. Like-for-like sales for the group were held back by declines, albeit smaller than last year, in Germany and the Netherlands, the latter particularly affected by the rapid increase in selling space. |
| Primark numbers smash it again. +11% over Christmas, 22% if you take weaker Sterling. Plan to open over 1mn sq ft in current financial year | Primark numbers smash it again. +11% over Christmas, 22% if you take weaker Sterling. Plan to open over 1mn sq ft in current financial year |
| Primark says Xmas trading was good - but no figures given | Primark says Xmas trading was good - but no figures given |
| 7.35am GMT | 7.35am GMT |
| 07:35 | 07:35 |
| Debenhams: Christmas sales up 5% | Debenhams: Christmas sales up 5% |
| Onto Debenhams...and it’s also beaten forecasts as customers clamoured for beauty products and gifts. | Onto Debenhams...and it’s also beaten forecasts as customers clamoured for beauty products and gifts. |
| My colleague Julia Kollewe has taken a look, and reports: | My colleague Julia Kollewe has taken a look, and reports: |
| Debenhams has reported better than expected Christmas trading. Like-for-like sales grew 5% in the seven weeks to 7 January and were up 1.7% at constant exchange rates. | Debenhams has reported better than expected Christmas trading. Like-for-like sales grew 5% in the seven weeks to 7 January and were up 1.7% at constant exchange rates. |
| Over the 18 weeks to 7 January, group like-for-like sales at constant exchange rates edged up 0.5%, with UK sales stronger, at 1% growth. | Over the 18 weeks to 7 January, group like-for-like sales at constant exchange rates edged up 0.5%, with UK sales stronger, at 1% growth. |
| Analysts had expected a 1% drop in underlying sales. | Analysts had expected a 1% drop in underlying sales. |
| The retailer said beauty and gift sales grew strongly to take the non-clothing sales mix to 57%. It has cut back on promotions overall but said it had a successful Black Friday. | The retailer said beauty and gift sales grew strongly to take the non-clothing sales mix to 57%. It has cut back on promotions overall but said it had a successful Black Friday. |
| 7.30am GMT | 7.30am GMT |
| 07:30 | 07:30 |
| Tesco: 3rd successful Christmas in a row | Tesco: 3rd successful Christmas in a row |
| Tesco has also posted a decent-looking performance over Christmas, with a 0.7% rise in like-for-like sales in the UK - driven by sales of toys and clothes. | Tesco has also posted a decent-looking performance over Christmas, with a 0.7% rise in like-for-like sales in the UK - driven by sales of toys and clothes. |
| That’s despite not repeating last year’s loyalty card promotion which it said had hit performance by 0.8%. | That’s despite not repeating last year’s loyalty card promotion which it said had hit performance by 0.8%. |
| Here’s the details: | Here’s the details: |
| Food like-for-like sales up 1.3%, with significant market outperformance in fresh food | Food like-for-like sales up 1.3%, with significant market outperformance in fresh food |
| Impact of minus 0.8% on total UK like-for-like sales from not repeating Clubcard ‘Boost’ promotion, leading to lower general merchandise sales | Impact of minus 0.8% on total UK like-for-like sales from not repeating Clubcard ‘Boost’ promotion, leading to lower general merchandise sales |
| Strong performance in clothing and toys, with sales up 4.3% and 8.5% respectively | Strong performance in clothing and toys, with sales up 4.3% and 8.5% respectively |
| CEO Dave Lewis says this is Tesco’s third successful Christmas in a row | CEO Dave Lewis says this is Tesco’s third successful Christmas in a row |
| We are very encouraged by the sustained strong progress that we are making across the Group. In the UK, we saw our eighth consecutive quarter of volume growth and delivered a third successful Christmas. Our fresh food ranges proved particularly popular, outperforming the market with great quality, innovative new products and even more affordable prices. Internationally, we have continued to focus on improving our offer for customers in challenging market conditions. | We are very encouraged by the sustained strong progress that we are making across the Group. In the UK, we saw our eighth consecutive quarter of volume growth and delivered a third successful Christmas. Our fresh food ranges proved particularly popular, outperforming the market with great quality, innovative new products and even more affordable prices. Internationally, we have continued to focus on improving our offer for customers in challenging market conditions. |
| We are well-placed against the plans we shared in October to become more competitive for customers, simpler for colleagues, and an even better partner for our suppliers, whilst creating long-term value for our shareholders. | We are well-placed against the plans we shared in October to become more competitive for customers, simpler for colleagues, and an even better partner for our suppliers, whilst creating long-term value for our shareholders. |
| I would like to thank all of our colleagues for everything they have done to serve our customers brilliantly over this very busy period.” | I would like to thank all of our colleagues for everything they have done to serve our customers brilliantly over this very busy period.” |
| 7.21am GMT | 7.21am GMT |
| 07:21 | 07:21 |
| Today’s results are a boost to Marks & Spencer’s new CEO, Steve Rowe, who recently announced a turnaround plan for the business centered on its food business. | Today’s results are a boost to Marks & Spencer’s new CEO, Steve Rowe, who recently announced a turnaround plan for the business centered on its food business. |
| Rowe says: | Rowe says: |
| “I am pleased with the customer response we have seen to the changes we are making in line with our plan for the business. I would like to thank the whole team for their hard work over this busy period. | “I am pleased with the customer response we have seen to the changes we are making in line with our plan for the business. I would like to thank the whole team for their hard work over this busy period. |
| “In Clothing & Home, better ranges, better availability and better prices helped to improve our performance in a difficult marketplace. We also continued to substantially reduce discounting, including over Black Friday. | “In Clothing & Home, better ranges, better availability and better prices helped to improve our performance in a difficult marketplace. We also continued to substantially reduce discounting, including over Black Friday. |
| “Our Food business continues to grow market share with customers recognising our product as special and different. Our Simply Food store pipeline remains strong.” | “Our Food business continues to grow market share with customers recognising our product as special and different. Our Simply Food store pipeline remains strong.” |
| Rowe warms, though, that consumer confidence remains “uncertain” in 2017. | Rowe warms, though, that consumer confidence remains “uncertain” in 2017. |
| Updated | Updated |
| at 7.22am GMT | at 7.22am GMT |
| 7.19am GMT | 7.19am GMT |
| 07:19 | 07:19 |
| Marks & Spencer beats forecasts | Marks & Spencer beats forecasts |
| Marks & Spencer has beaten City forecasts, with sales growth across its food, clothing and homeware operations. | Marks & Spencer has beaten City forecasts, with sales growth across its food, clothing and homeware operations. |
| The high-street chain grew its like-for-like sales in the UK by 1.3%, led by a 2.3% jump in clothes and homeware. | The high-street chain grew its like-for-like sales in the UK by 1.3%, led by a 2.3% jump in clothes and homeware. |
| That’s a welcome return to form for M&S, after years of underperformance in this area. | That’s a welcome return to form for M&S, after years of underperformance in this area. |
| Can it be true M&S... clothing and home lfl +2.3% | Can it be true M&S... clothing and home lfl +2.3% |
| Food sales also did well, up 0.6% in a like-for-like basis (stripping out new stores). | Food sales also did well, up 0.6% in a like-for-like basis (stripping out new stores). |
| Here’s the details: | Here’s the details: |
| 7.13am GMT | 7.13am GMT |
| 07:13 | 07:13 |
| And we’re off! A mass of trading news is flashing across the wires as all 12 retailers report their results to the City. | And we’re off! A mass of trading news is flashing across the wires as all 12 retailers report their results to the City. |
| 7.06am GMT | 7.06am GMT |
| 07:06 | 07:06 |
| The agenda: Masses of Christmas trading news | The agenda: Masses of Christmas trading news |
| Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. | Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. |
| They’re calling it Retail Super Thursday in the City. | They’re calling it Retail Super Thursday in the City. |
| No fewer than 12 of Britain’s shopping groups are reporting their financial results for the Christmas period this morning, giving a crucial insight into the UK economy. | No fewer than 12 of Britain’s shopping groups are reporting their financial results for the Christmas period this morning, giving a crucial insight into the UK economy. |
| The list includes several big names -- Marks & Spencer, Tesco and Debenhams, along with JD Sports, SuperGroup, Mothercare, Associated British Foods (the owner of Primark), Moss Bros, ASOS, Booker Group, Dunelm, and AO.com. | |
| A huge number of retailers updating markets tomorrow: AO., ASC, ABF, BDEV, DEB, DNLM, MCLS, MKS, MTC, MOSB, SGP, TSCO | A huge number of retailers updating markets tomorrow: AO., ASC, ABF, BDEV, DEB, DNLM, MCLS, MKS, MTC, MOSB, SGP, TSCO |
| Veteran analyst Nick Bubb sighs: | Veteran analyst Nick Bubb sighs: |
| “Super Thursday” is a nightmare for retail analysts with about a dozen Christmas trading announcements all coming out at once at 7am. | “Super Thursday” is a nightmare for retail analysts with about a dozen Christmas trading announcements all coming out at once at 7am. |
| But it’s worth it, guys, to find out how Britain’s high street and e-commerce sector fared during the first festive period since the Brexit vote. | But it’s worth it, guys, to find out how Britain’s high street and e-commerce sector fared during the first festive period since the Brexit vote. |
| Also coming up.... | Also coming up.... |
| There’s not much in the economic calendar today, apart from a report on German GDP in 2016 at 9am, eurozone industrial production figures at 10am, and the weekly US jobless report at 1.30pm. | There’s not much in the economic calendar today, apart from a report on German GDP in 2016 at 9am, eurozone industrial production figures at 10am, and the weekly US jobless report at 1.30pm. |
| Plus, traders will be watching to see if the FTSE 100 can extend its run of record highs.... | Plus, traders will be watching to see if the FTSE 100 can extend its run of record highs.... |
| Updated | Updated |
| at 8.28am GMT |