The outdoor chain Mountain Warehouse continues to go from strength to strength as it shares boisterous sales and soaring profits in its latest trading update. The retailer has been in buyout form for several months with 25 new store openings when other major retailers, including M&S ponder store closures in the face of difficult trading conditions.
Figures revealed last week for its year end to February reveal a 22% increase in sales, up to £225.3 million from £184.8 million. This is a 14% like-for-like sales growth and is backed by a 35.6% year-on-year pre-tax profit increase. The online sales arm has performed particularly well, with a 36.5% year-on-year growth, taking digital purchases to 30% of all sales.
Read the full story here: https://www.retailgazette.co.uk/blog/2018/05/mountain-warehouse-reaches-another-peak-soaring-sales/
Google redoubles efforts to protect SMEs from scams and fraud
Google has shared an update on its attempts to better protect SMEs from scams and fraud, saying it has developed new tools, a stronger education program and is filing new lawsuits.
It’s stepping up its efforts in an bid to cut back on the number of organisations targeting small business owners – often, they will charge for free Google services, impersonate Google on phone calls and threaten to remove the small business from Google rankings, unless payment is forthcoming for SEO services they don’t want or need.
In its blog, Google says it has filed new lawsuits against several firms, which it hopes will serve as a deterrent to other scammers. It also shares that it has launched a new tool to make reporting violations much easier and has stepped up its Get Your Business Online initiative to provide more education and resources for small business owners.
Read the full post here: https://www.blog.google/topics/small-business/taking-action-against-scammers/
Is the worst over for retailers?
Sky News is reporting that the worst could well be over for high street retailers with figures showing a 1.6% rise in sales volumes. The figure, which comes from the latest Office of National Statistics (ONS) data, showed a 1.6% growth in April versus March, which exceeded expectations and contradicts previous research which suggested a slum in sales unrivalled in two decades in April.
The ONS says spending is expected to remain quite flat through much of the rest of the year, however salaries are now growing above the rate of inflation so some of the pressure on consumers will ease over the next few months.