Hints and tips:
...Also based in Hangzhou, Wahaha was founded by the late Zong Qinghou, who also once topped China’s rich list....
...It also owns chunks of rival Boohoo as well as electronics retailers AO and Currys....
...AO, Asos, Boohoo, Currys and Frasers declined to comment....
...Tuesday will be busiest with results from Nvidia, Best Buy and AO World, a clutch of other tech firms and retailers....
...It said same-store sales rose 7.1 per cent in the 11 months to the end of December driven by customers returning to stores following the end of pandemic restrictions....
...Ashley still owns 72 per cent of the retailer, which started life as a single store in Maidenhead in 1982....
...Landlords of individual stores wield a lot less power by comparison. It may also finally bury the idea that ecommerce is somehow easier or inherently more profitable than the traditional variety....
...Across the third quarter as a whole, same-store sales excluding fuel were up 5.9 per cent against consensus expectations of 4.8 per cent....
...Kingfisher, the owner of DIY stores B&Q and Screwfix, said DIY sales had been boosted by demand for energy-efficient products in its most recent fiscal quarter despite the “challenging” environment....
...SELL: AO World (AO.) The retailer’s European arm faces stiffer competition as online buying demand falters, writes Michael Fahy....
...Ingka Group, which owns most of the Ikea stores worldwide, reports full-year figures on Thursday, which will include profits for the home furnishing retailer....
...DBA members such as Asos, Boohoo and AO are also BRC members....
...But an ill-judged foray into physical stores starting in 2016 stalled its momentum....
...Overall revenues rose 11 per cent in the quarter, with in-store sales up more than 70 per cent and ecommerce sales 16 per cent higher....
...But lots of people set a lot of store in having a recognisable brand in their hand. Algy Hall Absolutely....
...Weakening consumer demand has also been a key feature in UK retailers’ results including yesterday’s from AO World and Made.com....
...Chief economics commentator Martin Wolf is not a fan, arguing cryptocurrencies are objects of speculation rather than stores of value....
...When they bought the business in 2004, it had just 21 stores....
...John Lewis, Boots and M&S, for example, have closed stores, shed thousands of head office jobs and taken out layers of store management....
...Full-year results from AO World showed a 62 per cent jump in revenue and a swing into profitability....
...For the 11 weeks to January 9, Superdry said sales were down 27.2 per cent as growth from its online business failed to counter sharp drops in wholesale and store revenue....
...The threat to retailers was underlined on Friday when electronics retailer AO World warned that a lack of drivers was hurting its business. Shares in the group plunged more than 20 per cent....
...The shares have fallen by more than two-thirds since June, with Asos catching the attention of short-sellers, along with other online retailers including Boohoo, N Brown, and AO World....
...When the first set of lockdowns shuttered stores in March, online sales flew. Kingfisher, owner of B&Q and Screwfix, had a horrid April. Like-for-like store sales halved year on year....
..."When you are working from home, you use the products we sell more intensively,” said John Roberts, AO’s chief executive....
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