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How UK retailers fared over Omicron-hit Christmas

01/13/2022 | 08:33am EDT

Jan 20 (Reuters) - Britons splashed out on a bumper Christmas, results from the country's biggest retailers show, treating themselves to upmarket food, drink and clothes before the sober reality of surging prices hits home in 2022.

Following is a summary of what major retailers have said so far about their performance over the holiday season.


Britain's biggest retailer raised its profit outlook for the second time in four months as it reported a rise in Christmas sales despite a tough comparative with 2020 when spending was boosted by a COVID-19 lockdown.


Food and clothing retailer Marks & Spencer nudged up its profit outlook after it reported a strong Christmas performance, particularly in food, where it outperformed the market.


Online fashion retailer ASOS reiterated its already downgraded outlook after supply chain constraints and volatile demand limited sales growth in the four months to the end of December.


The UK's second biggest supermarket group raised its full-year profit forecast by at least 9% after grocery sales over the Christmas quarter beat its expectations, even though they fell short of its stellar 2020 festive performance.


Britain's biggest sportswear retailer raised its annual profit forecast for the second time in four months as shoppers splashed out on sportswear during the holidays and U.S. consumers spent their stimulus cheques on the latest trends.


The British homewares and furniture retailer reported record Christmas sales, putting it on track to soundly beat profit forecasts and lifting its shares.


The British arm of German discount supermarket group Lidl said its sales rose 2.6% in the four weeks ending Dec. 26 year-on-year as it benefited from shoppers switching from other grocers.


The British arm of German discounter Aldi said its Christmas performance was boosted by record sales of its premium range and strong demand for beer, wine and spirits, with sales up 8.1% versus 2019.


Next raised its full-year profit outlook for a fifth time in 10 months after beating guidance for sales in the run-up to Christmas, boosted by an unexpected revival in demand for adult formal and occasionwear.


The food-to-go retailer said it anticipated its full-year outcome would be slightly ahead of its previous expectations, after reporting a 0.8% rise in like-for-like sales for its fourth quarter compared to two years ago.


B&M European Value Retail forecast annual profit ahead of estimates, following the discount retailer's decision to take delivery of imported stock earlier than usual.


Electricals retailer Currys warned it faces uncertain demand and more supply chain disruption in 2022, as it trimmed full-year profit guidance by 3% after Christmas sales were dented by a "challenging" technology market.


E-commerce company THG suffered another setback when it said adjusted core earnings margin for 2021 would fall short of expectations due to adverse currency movements, and remain under pressure because of high prices for commodities such as whey.


Luxury brand Burberry said it looked to beat profit expectations after full-price sales accelerated in the third quarter, driven by a strong performance in outerwear and leather goods and a material improvement in Asia and Europe.


Clothing retailer Primark said the lifting of COVID-19 restrictions in England had boosted its prospects after December sales were dented by the rapid spread of the Omicron coronavirus variant.

(Reporting by Muhammed Husain and Shanima A in Bengaluru Editing by Keith Weir, James Davey and Mark Heinrich)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ASOS PLC -0.54% 1477 Delayed Quote.-38.23%
ASSOCIATED BRITISH FOODS PLC 0.73% 1736 Delayed Quote.-13.55%
B&M EUROPEAN VALUE RETAIL S.A. -0.55% 453.6 Delayed Quote.-28.69%
BURBERRY GROUP PLC 1.80% 1670.5 Delayed Quote.-8.09%
CURRYS PLC -0.23% 86.15 Delayed Quote.-24.69%
DUNELM GROUP PLC -2.95% 870.5 Delayed Quote.-36.97%
GREGGS PLC 0.36% 2240 Delayed Quote.-32.87%
J SAINSBURY PLC -0.52% 231.1 Delayed Quote.-16.21%
JD SPORTS FASHION PLC 0.67% 119.95 Delayed Quote.-44.93%
MARKS AND SPENCER GROUP PLC 0.17% 149.85 Delayed Quote.-35.24%
NEXT PLC 0.28% 6540 Delayed Quote.-19.75%
TESCO PLC 0.19% 258.5 Delayed Quote.-10.83%
THG PLC -4.40% 151.95 Delayed Quote.-33.70%
TOPPS TILES PLC -1.89% 52 Delayed Quote.-20.00%
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