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Bloomberg
UK retailers’ holiday tale of woes continued as apparel chain Superdry Plc said lower-than-expected sales for the period could wipe out its annual profit, sending its shares reeling.
Another retailer, JD Sports Fashion Plc, said its full-year earnings will be in the upper range of previous guidance, but that was because of stronger performance outside the UK.
The updates follow downbeat reports from the likes of Marks & Spencer Group and John Lewis Partnership, which
struggled over the holidays as shoppers shift from bricks-and-mortar stores to e-commerce and discounters take advantage of consumer jitters linked to the country’s recent political turmoil. The British Retail Consortium, a trade group, said that 2019 was the worst year for UK retail on record.