29 August 2023
29 August 2023
During the month, turnover in clothing, footwear and personal accessory retailing grew 2.0%.
The price reduction will come into effect on 24 August across all stores and online.
The retailer will add more than 2,800 seasonal roles in Waitrose and more than 2,900 temporarily roles in John Lewis.
The retailer expects operating profit percentage in the range of 7.4% to 7.8% in FY24.
For the six months ended 30 June 2023, Instacart reported revenue increased 31% to $1.475bn.
The company plans to use proceeds from the Series E funding round to foray into new markets and expand deeper into existing markets.
The retailer’s net sales declined by 8.3% to $3.66bn.
The retailer temporarily closed all stores in Ukraine in February 2022 in response to the geopolitical conflict in the region.
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Per latest GlobalData estimates, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats.
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