Profit triples at Abercrombie & Fitch and Hollister owner October 28, 2024 Profit tripled at the business behind Abercrombie & Fitch and Hollister in the UK during its latest financial year as its sales passed the £200m mark. The London-headquartered division has reported a pre-tax profit of £9.8m for the 12 months to 3 February, 2024, according to newly-filed accounts with Companies House. The total comes after [...]
CMA launches legal action against Emma Group October 25, 2024 The UK's competition watchdog has launched legal proceedings against mattress seller Emma Group after finding "harmful online selling practices".
Unilever: Dove and Magnum owner shrugs off economic concerns October 24, 2024 Consumer goods giant Unilever has reported a period of strong growth as demand for its so-called power brands surged. In a trading update for the third quarter of 2024, the company said it had recorded underlying sales growth of 4.5 per cent compared to the prior year across its main divisions, with volume growth of [...]
Applied Nutrition prices London IPO towards lower end of range October 24, 2024 Sports health brand Applied Nutrition priced its IPO at £350m, towards the bottom of its guided range but still a boost for the beleagured London Stock Exchange.
Dunelm: Consumer demand for sofas boosts group October 24, 2024 Dunelm, the UK’s leading homewares retailer, has reported an uptick in revenue for the 13-week period ending 28 September as consumers continued to spend money on home updates. The company reported sales of £403m for the period, up 3.5 per cent compared to the same period last year. The company reported digital sales, as a [...]
Frasers wants to make Mike Ashley chief of Boohoo after ‘mismanagement and value destruction’ October 24, 2024 Frasers Group wants to appoint its boss Mike Ashley as the chief executive of fast fashion brand Boohoo, citing “long-term mismanagement” which has led to “value destruction“. The Mike Ashley-owned company wrote to the board of Boohoo this morning, saying the group was suffering from a “leadership crisis”. In a message to markets this morning, [...]
Reckitt: FTSE 100 giant’s revenue slides amid restructuring October 23, 2024 Reckitt has reported a drop in like-for-like revenue as the company continues to struggle after the pandemic. For the third quarter the company reported like-for-like net revenue growth of -0.5 per cent, although revenue increased 0.4 per cent for the year to 30 September. Overall, the group reported a net revenue decline of four per [...]
Gear4music: Music instrument retailer returns to growth October 22, 2024 Gear4music said it returned to quarterly revenue growth as the online musical instrument retailer pursued a new strategy to improve its profitability.
Mulberry rejects ‘untenable’ second offer from Mike Ashley’s Frasers October 22, 2024 The board of Mulberry has unanimously rejected the second bid from retail giant Frasers as “untenable”. Frasers launched its first bid on 1 October for £83m, which was subsequently rejected as too low by Mulberry, and its second of £111m on 11 October. Mulberry reiterated its statement from the first time it rejected Frasers’ bid: [...]
Halfords: Customers more cautious on Autumn budget fears October 22, 2024 Uncertainty around the Autumn budget is holding back consumer confidence, Halfords warned today. This morning the retailer said group like-for-like sales ticked down by 0.1 per cent in the 26 weeks to 27 September, on strong prior-year comparatives of 8.3 per cent growth plus a wet spring. The company is on track to deliver £30m [...]