Overview
- Group revenue rose about 4% to £2.75bn for the half, with UK total sales up 3.5% and like-for-like up 0.1%.
- Management said prices have been reduced, including cuts on 35% of key items averaging 1.8%.
- The retailer has pared back product ranges across categories to simplify operations and reduce costs.
- Leadership changes included Simon Hathway as group trading director and Helen Cowling as interim CFO under CEO Tjeerd Jegen.
- Some coverage cited adjusted operating profit down about 30% to £191m as a different metric, and the company guided full-year profit of £470m to £520m while it also flagged potential online and loyalty moves that remain unconfirmed.