Asos reported an 18% decline in gross sales through the first half of fiscal 12 months 2024, but maintained its revenue steerage. Despite the gross sales dip, Asos showcased robust free money circulate efficiency, reaching £20m, its greatest since FY17. CEO José Antonio Ramos Calamonte highlighted the corporate’s progress in implementing its ‘Drive Change’ agenda to boost profitability and streamline operations. Asos stays optimistic about its future, reaffirming its full-year steerage, which incorporates expectations of constructive adjusted EBITDA and decreased web debt.
Pets at Home revealed its expectation of a £132m revenue earlier than tax for the complete 12 months, according to earlier steerage. The firm’s retail and vet arms carried out as anticipated in This fall, and it efficiently launched a brand new digital platform, providing enhanced person expertise throughout its app and web site. With plans to transition all on-line gross sales to a brand new supply centre by H1 FY25, Pets at Home expressed confidence in assembly analyst expectations for underlying revenue earlier than tax within the vary of £137m to £150m for FY25.
Holland and Barrett appointed Anthony Houghton as CEO of UK&I and introduced organisational modifications to speed up development. The restructuring entails creating three new divisions and appointing new leaders to drive transformation. Executive chair Alex Gourlay emphasised the corporate’s momentum and its give attention to creating built-in buyer experiences via a localised and omnichannel strategy. These modifications goal to simplify operations, empower native decision-making, and drive efficiency throughout the organisation.
Ocado reported a ten.6% improve in gross sales to £645.3m in H1 2024, with development in energetic shopper numbers and common orders per week. The on-line grocery store maintained its steerage for FY23, anticipating income development within the mid-high single digits and an EBITDA margin of two.5%. CEO Hannah Gibson credited the corporate’s ‘Perfect Execution’ program for the constructive outcomes, highlighting efforts to boost buyer propositions, product availability, and pricing methods. Gibson expressed confidence within the firm’s technique resonating with prospects and anticipated additional progress in 2024.
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