Harrods passes £1bn mark as Qatari owners get £180m pay day despite falling profit September 2, 2024 Sales jumped to £1bn at the company behind luxury department store Harrods during its latest financial year, but profit was slashed over the same period, it has been revealed. The London icon posted a turnover 8.2 per cent higher for the year to 3 February, 2024, according to newly-filed accounts with Companies House, compared to [...]
Mike Ashley’s Frasers Group ups stake in Boohoo after shares slump September 2, 2024 Mike Ashley’s retail empire Frasers Group has further increased its stake in fast fashion giant, Boohoo. The Mansfield-headquartered group now holds 26.1 per cent of the shares in Boohoo, up from 25 per cent, according to a newly-filed document with the London Stock Exchange. Frasers Group, which owns the likes of Sports Direct and House [...]
Nivea suncream and deodorant help boost Beiersdorf’s UK sales and profit September 2, 2024 The higher sales of sunscreen and deodorant helped UK arm of Beiersdorf, the company behind the likes of Nivea, boost its turnover and profit during 2023. The Birmingham-based company has reported a turnover of £273.9m for 2023, up from the £237m it posted for 2022. Newly-filed accounts with Companies House also show its pre-tax profit [...]
Specsavers maintains £15m pay day despite falling profit September 2, 2024 Specsavers has maintained the £15m payday for its Guernsey-based owners despite another year of a decline in its profit. The national brand has handed the interim dividend to its parent company Specsavers Optical Group, the same total as in its prior financial year. The ultimate parent company of the UK business is beneficially owned by [...]
Stake in Lewis Hamilton’s non-alcoholic spirit Almave bought by Pernod Ricard August 29, 2024 A stake in Lewis Hamilton’s non-alcoholic tequila alternative has been snapped up by spirits giant Pernod Ricard. Pernod Ricard did not disclose the size of its investment in the brand but did confirm that it was a minority stake. Seven-time Formula One world champion Lewis Hamilton co-founded the brand, alongside drinks incubator business Casa Lumbre [...]
Pernod Ricard’s Russia exit leads to sales fall for Scotch whisky maker Chivas Brothers August 29, 2024 Pernod Ricard stopping all exports of its international brands to Russia led to a fall in sales for Scotch whisky maker Chivas Brothers during its latest financial year. The Scotland-headquartered company has revealed its net sales fell by 1.6 per cent in the 12 months to the end of June 2024 off the back of [...]
Gopuff to increase fees as it hopes to deliver first UK profit after cutting almost 1,000 jobs August 29, 2024 Delivery company Gopuff is to up its fees as it targets turning its first-ever UK profit in the coming years after shedding almost 1,000 jobs in 2023. The US-headquartered company reduced its UK headcount from 1,707 to 842 last year, according to newly-filed accounts with Companies House. The consumer goods and food delivery company, which [...]
Vision Express makes first profit since 2016 as sales near £400m August 29, 2024 Vision Express returned to the black for the first time since 2016 as its sales jumped towards the £400m during its latest financial year, it has been revealed. The Nottinghamshire-headquartered company has reported a pre-tax profit of £7.9m for 2023, having posted a pre-tax loss of £173,000 in 2022, according to newly-filed accounts with Companies [...]
Quiz plots turnaround strategy after fashion chain swings to loss August 29, 2024 High street retailer Quiz has announced a turnaround strategy after swinging to a loss in its final year earnings, blaming cost-of-living pressures and cool consumer demand. The Glasgow-headquartered company booked a loss before tax of £6.7m, including a £1.5m non-recurring impairment charge, falling from a profit of £2.3m in 2023. Earnings before interest, tax, depreciation [...]
Higher price of milk warning issued by Cravendale maker Arla Foods amid shortage August 28, 2024 Arla Foods, the maker of brands including Cravendale, Skyr and B.O.B milk, has warned that customers will face higher prices in the coming months amid a shortage of milk on a global level. The company said it “anticipates that volatile market conditions driven by geopolitical tension and uncertainty” will continue but that a positive trend [...]