Allsaints: Record year for fashion brand despite retail decline September 17, 2024 Fashion brand Allsaints achieved another record year after a boost to its wholesale, franchise and licensing revenue offset a fall in its retail performance. The London-headquartered company has posted a total revenue for the year to 3 February, 2024, of £459.5m, a rise of 0.6 per cent compared to the prior 12 months. Its wholesale, [...]
Hotel Chocolat names new CEO as expansion effort takes shape following £534m takeover by Mars September 16, 2024 Hotel Chocolat has promoted its UK managing director Lysa Hardy to become its new chief executive in yet another sign of change after a takeover by Mars. Hardy, who was a non-executive at Superdry until July this year, will take over from co-founder and current chief executive, Angus Thirwell, according to a LinkedIn update. Last [...]
Deliveroo: Boss Will Shu in £15m pay day after selling millions of shares September 16, 2024 The chief executive and co-founder of Deliveroo has received a pay day of almost £15m after selling more than 9m shares in the London-listed company. Will Shu has disposed of 9.4m shares worth £14.8m between 12 September and 16 September to “cover personal property investments”. Following the sell off, Shu retains 95.8m shares in Deliveroo. [...]
Mcdonald’s empire hopes new Mcflurry flavours will keep customers happy after ‘bold’ price rises September 16, 2024 “Bold” price rises at a McDonald’s franchise empire helped sales jump by more than £15m during its latest financial year. Run by Andrew Gibson, AG Restaurants runs 27 sites in Glasgow, employs more than 3,000 people and is one of the largest in the UK. The business has reported a turnover of £135.2m for 2023, [...]
Itsu: Return to the office helps boost sales September 13, 2024 The move by companies to encourage their workforce to return to the office helped sales jump at East Asian-inspired eatery chain Itsu during its latest financial year. The London-headquartered company has posted a turnover of £160.7m for 2023, up from the £137.7m it achieved in 2022. Newly-filed accounts with Companies House also show the brand’s [...]
Golf brand Ping hails another record year as sales pass £100m September 13, 2024 The European arm of golf brand Ping has hailed another record year as its sales passed £100m for the first time. The Lincolnshire-headquartered business has posted a turnover of £107.5m for 2023, up from the previous record of £90.8m, according to newly-filed accounts with Companies House. The firm has also reported a pre-tax profit of [...]
Mike Ashley’s Frasers Group buys city hot spot September 13, 2024 Mike Ashley’s retail empire, Frasers Group, has acquired a major shopping centre in Lancaster. St Nicholas Arcade has been snapped up by the Derbyshire-headquartered listed giant in a move which it has described as “further strengthening the group’s commitment to physical retail in the UK”. Frasers Group added that the 160,000 sq ft shopping centre [...]
Burberry: How low will ‘lost’ luxury fashion label’s shares go after FTSE 100 relegation? September 11, 2024 Burberry’s share price just keeps dropping and the decline is has shown almost no signs of slowing down for more than a year. It hit a 15-year low of 565p this week, after reaching a 14-year low in July, after hitting an all-time high of £2,690p last April. It is set to drop out of [...]
Luke 1977: UK’s economic woes to hit fashion industry for next three years September 11, 2024 Menswear brand Luke 1977 has warned that the “current economic climate” will continue to impact on the fashion industry for the next two to three years. The Oxfordshire-headquartered business said the fashion industry is also “experiencing challenges relating to climate control”, ranging from the reduction of carbon foot prints to the use of recyclable materials. [...]
Garmin predicts further sales boost as wearable fitness tech surges September 11, 2024 Wearable technology giant Garmin has predicted its European sales will surge by 14 per cent in 2024 thanks in part to new products being launched. The Southampton-headquartered division made the forecast in newly-filed accounts with Companies House which revealed an increase in both its turnover and pre-tax profit during 2023. The results show that Garmin [...]