Next: Closures on the horizon if court rejects appeal. What is in store for the retail giant? September 22, 2024 Fashion retailer Next lost a major legal battle last month over unequal pay in its UK operations. Now, it has been revealed that if it loses its appeal, it will have to close some of its stores
American Golf hails sales success as it bids to return to profit September 20, 2024 American Golf has enjoyed an upswing in its market share since the start of its new financial year and added almost £1.5m in extra sales. The Warrington-headquartered retailer, which is backed by private equity firm Endless, has revealed its like-for-like sales rose by £1.4m to £80.6m in the period from February to August 2024. American Golf [...]
Quorn: Meat-free food brand loses more than £60m as supermarket sales slashed September 19, 2024 The company behind meat-free food brand Quorn lost more than £60m during its latest financial year as its sales in UK and US supermarkets continued to decline. The North Yorkshire-headquartered Marlow Foods has posted a pre-tax loss of £63.4m for 2023, having also made a loss of £15.4m in 2022. The last time the Quorn [...]
Fentimans in the red after poor summer weather flattens drinks brand September 19, 2024 Soft drinks and tonic water brand Fentimans fell into the red during its latest financial year after bad summer weather and the cost-of-living crisis impacted its sales. The Northumberland-based business has reported a pre-tax loss of £655,708 for 2023, according to newly-filed accounts with Companies House. The loss comes after Fentimans posted a pre-tax profit [...]
Lego keeps building success in the UK despite ‘declining toy market’ September 19, 2024 Lego has continued to build on its recent success as its UK sales and profit rose for the sixth year in a row in 2023. The Berkshire-headquartered division of the Danish giant has reported a turnover of £449.2m for its latest financial year, up from the £440m it posted for 2022. According to newly-field documents [...]
Games Workshop suffers major shareholder revolt after top bosses handed huge bonuses September 18, 2024 Warhammer maker Games Workshop has suffered a major shareholder revolt after handing millions in bonuses to its top bosses. The Nottingham-headquartered company saw almost 21 per cent vote against its remuneration report and nearly 27 per cent vote against its remuneration policy at its AGM today (Wednesday, 18 September). Following record sales and pre-tax profit [...]
How Brits turning to ‘luxury that lasts’ has helped sale surge at The Cotswold Company September 18, 2024 In just five years, The Cotswold Company has more than doubled its revenue, a milestone that CEO Ralph Tucker believes signals a shift in how British consumers are prioritising their spending. Based in Norwich, the premium furniture brand has long been favoured by fans of quiet luxury, but has seen a surge in new customers [...]
Fashion brands told to ‘stay on the right side of the law’ amid greenwashing claims September 18, 2024 Some of the most high-profile fashion brands in the UK have been warned to be clearer on their green credentials by the UK competition watchdog as it clamps down on misleading marketing. The Competition and Markets Authority (CMA) has issued a new sustainability compliance guide for retailers and told 17 brands to review their practices. [...]
Carex, Imperial Leather and Original Source maker PZ Cussons slumps into the red after Nigerian Naira collapse September 18, 2024 Shares in PZ Cussons, the company behind the likes of Carex, Imperial Leather and Original Source, have been cut after the business revealed how a 70 per cent slash to the Nigerian Naira has impacted its finances. The Manchester-headquartered firm, which is listed on the London Stock Exchange, has reported a revenue of £527.9m for [...]
Far East sales sparkle at diamond jeweller and luxury watchmaker Graff September 18, 2024 A surge in Far East sales more than offset a decline in US revenue at diamond jeweller and luxury watchmaker Graff during its latest financial year, it has been revealed. The London-headquartered business has reported a revenue of $842.2m (£637.5m) for 2023, up from the $724.8m (£523.6m) it posted for 2022, newly-filed accounts with Companies [...]