Gucci: Profit halved as ‘high competition’ eats into sales October 11, 2024 Profit at the UK arm of luxury fashion brand Gucci has cut almost in half during its latest financial year after “high competition” impacted its sales. The West Sussex-headquartered division has reported a pre-tax profit of £4.8m for 2023, down from the £9m it achieved in 2022. Newly-filed accounts with Companies House also show its [...]
Red Bull revenue take flight after multipacks success October 10, 2024 Revenue at energy drink giant Red Bull jumped by almost £90m in 2023 after more people in the UK picked up its multipacks. The London-based division of the Austrian giant has reported a revenue of £594.1m for its latest financial year, up from the £508.6m it posted in 2022. Newly-filed accounts with Companies House also [...]
Ikea sales slump as shoppers feel the pressure October 10, 2024 The UK arm of Ikea has suffered a slump in its sales for its latest financial year as under-pressure shoppers held off buying bigger-ticket items. The division of the Swedish homeware giant said the fall was also partly driven by price reductions to keep attracting customers hit hard by the higher cost of living. The [...]
Mondelēz: Sales pass milestone at Cadbury owner but profit melts October 10, 2024 Sales at the owner of brands such as Cadbury, Toblerone and Oreo surged past the £2bn mark in 2023 but its profit was slashed, it has been revealed. Uxbridge-headquartered Mondelēz UK, which is part of the wider Mondelēz International group, has reported a turnover of £2.21bn for its latest financial year, up from the £1.95bn [...]
Rolex: Sales at luxury watch maker rise time after time October 10, 2024 Sales at the UK arm of Rolex rose by almost £80m during 2023, for the 17th consecutive year. The London-headquartered division has reported a turnover of £685.2m for the 12 months, up from the £608.1m it achieved in 2022. Newly-filed accounts with Companies House also show that its pre-tax profit increased from £59.4m to £65.8m [...]
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 [...]
John West makes first loss since 2010 after reversing failed pricing decision October 9, 2024 Canned tuna brand John West has fallen into the red for the first time since 2010 after reversing a failed decision to pass on price rises to its customers. The Liverpool-headquartered business has reported a pre-tax loss of £6.7m for 2023, having reported a profit of £2m in 2022. The last time John West posted [...]
New Balance doubles sales in two years as profit jumps October 9, 2024 The UK arm of New Balance has more than doubled its sales in the space of just two years as its profit jumped by more than £140m. The Cheshire-headquartered division has posted a turnover of £882.1m for 2023, up from £679.7m in 2022 and £413.5m in 2021. Newly-filed accounts with Companies House also show that [...]
Revolution Beauty eyes return to growth in early 2025 after sales tumble October 9, 2024 Revolution Beauty expects a return to sales growth early next year as the troubled makeup brand makes progress on a strategy to turnaround its fortunes.
Live shopping platform backed by new Topshop owner expands into the UK October 9, 2024 Live shopping tech company Sprii, which is backed by the new owner of Topshop, has announced plans to expand into the UK, with over half of its marketing budget earmarked for Brits. The company, which currently works with around 100 UK retailers, said it is also currently in talks with a “number of major retailers” [...]