Rising sales but falling profits were a feature of Space NK's latest financial year. But analysts were impressed with its overall performance as it made the most of opportunities both in stores and online.
The shift in consumer focus from physical stores to online shopping was underlined this week on news of a £51.4m deal to transform a London retail park into a logistics hub with warehousing for online businesses.
While pre-Christmas retail may have been disappointing in the UK, it could get worse with yesterday dubbed ‘Takeback Thursday’ on the back of predictions that a huge number of purchases would be returned on that day.
Online retailers are not immune to the devastation that is happening in UK retail at the moment and a new study said that more than 9,000 online retailers are suffering from significant financial distress.
The boss of Harrods said the retailer is “well placed to take advantage of” the younger shopper who wants “to have really great quality beauty” and is upbeat about the chances for the firm’s new beauty chain.