Mike Ashley’s Frasers Group backs N Brown takeover amid Mulberry pursuit Retail Mike Ashley’s Frasers Group has backed the £191m proposed takeover of JD Williams-owner N Brown and announced the sale of its 20 per cent stake in the company for £38m. The retail empire, which includes Sports Direct and House of Fraser, holds nearly 95,000,000 shares in the Manchester business and will sell them for 40p [...]
TJ Maxx sales pass £4bn to hit new record Retail Sales at the UK arm of TJ Maxx passed the £4bn mark during its latest financial year to hit a new record, it has been revealed. Newly-filed accounts with Companies House show the firm’s turnover increased from £3.88bn to £4.02bn in the 12 months to 3 February, 2024. Despite the rise in sales, TJ Maxx’s [...]
Boots: Online and makeup sales boost earnings ahead of Christmas Retail High street pharmacy chain Boots has said a surge in sales online and for makeup helped increase its turnover during its latest financial year. The Nottingham-headquartered company has revealed its year-on-year turnover increased by 6.9 per cent in the 12 months to 31 August, 2024. During its final quarter, its retail sales rose by 6.2 [...]
Fenwick: John Lewis rival slumps into the red and cuts jobs October 15, 2024 Department store chain Fenwick slumped back into the red and cut jobs as it battled the cost-of-living crisis and a “changing retail environment”. The Newcastle-headquartered business has reported a pre-tax loss of £28.3m for the year to 26 January, 2024, having previously made a pre-tax profit of £57.1m in the prior 12 months. Newly-filed accounts [...]
Could Shein set its sights on Asos after putting Boohoo in the shade? October 9, 2024 The hierarchy of the UK’s fast fashion industry looks to have shifted after Shein’s UK sales eclipsed Boohoo’s for the first time. The Chinese-founded online retailer, which is on track for a bumper IPO on the London Stock Exchange, achieved a revenue of more than £1.5bn in 2023, it was revealed this week. Shein also [...]
Shein parks tanks on Boohoo’s lawn as UK sales pass £1.5bn ahead of IPO October 8, 2024 UK sales at Shein, the Chinese-founded online retailer on track for a bumper IPO on the London Stock Exchange, passed £1.5bn last year, the company has revealed. The division generated a revenue of £1.55bn for 2023, up from the £1.12bn it achieved in 2022. Shein also posted an annual profit of £18.7m, a significant rise [...]
Canon remains in the red despite capturing near-£100m sales boost October 3, 2024 The UK arm of camera and printer giant Canon failed to return to the black during its latest financial year despite sales rising by almost £100m. The Uxbridge-headquartered division reduced its pre-tax loss from £7.3m to £5.1m in 2023, newly-filed accounts with Companies House have revealed. The last time Canon UK reported a pre-tax profit [...]
Adidas looks to Euro 2024 and Olympic success as UK sales suffer £100m drop October 2, 2024 Sales at the UK arm of Adidas suffered a fall of more than £100m during its latest financial year despite growth in its own retail stores. The division, which is headquartered in Stockport, has posted a turnover of £1.15bn for 2023, down from the £1.23bn it achieved in 2022. In newly-filed accounts with Companies House, [...]
Etsy: UK sales surge to post-pandemic high October 2, 2024 Sales at the UK arm of online marketplace Etsy have surged back to almost the heights it enjoyed during the Covid-19 pandemic. The London-headquartered division has reported a turnover of £9m for 2023, up from the £3.8m it posted in 2022, according to newly-filed accounts with Companies House. The latest figure comes after Etsy UK’s [...]
In The Style: What’s next for fast-fashion label as founder quits and takeover drags on? October 1, 2024 The founder of fast-fashion label In The Style has quit as a drawn-out takeover deal continues to rumble on. Adam Frisby set up the Manchester-based brand from his bedroom in 2013 and served as its chief executive January 2022 but returned as CEO in December that year before again leaving the role 12 months later. [...]