High street jewellery giants struggle to sparkle Retail Growth seems to be hard to come by in almost any industry at the moment, especially as UK business leaders brace for Chancellor Rachel Reeves to deliver her expected tax hikes later this month. But the latest set of financial results for two of the country’s largest jewellery chains has shone a spotlight on the [...]
Why don’t London’s luxury hotels make any money? hospitality London is home to some of the most iconic and well-known luxury hotels in the world. The Savoy, the Ritz, The Dorchester and Claridge’s, to name just a few, are renowned the world over and have played host to the ultra wealth, celebrities and royalty. Also appearing in a string of popular films, London’s luxury [...]
The Savoy Hotel sheds jobs as losses widen hospitality Losses widened at The Savoy Hotel as it shed jobs during its latest financial year while a major renovation project started. The five-star London hotel has posted a pre-tax loss of £19.6m for 2024, having also lost £17.5m in 2023. The last time The Savoy Hotel made a pre-tax profit was the £5.9m it reported [...]
Claridge’s: Five-star London hotel falls into the red October 6, 2025 Claridge’s, the iconic five-star London hotel, has slipped into the red despite its revenue rising during its latest financial year, it has been revealed, amid major redevelopment work. For 2024, the hotel has posted a pre-tax loss of £5.4m, down from the £7.2m pre-tax profit it achieved in 2023. However, new accounts filed with Companies [...]
Selfridges: Losses slashed despite revenue hit October 1, 2025 Losses at luxury department store chain Selfridges have been slashed during its latest financial year despite its revenue taking a hit. The business, which has UK stores in London, Birmingham and two in Manchester, has posted a pre-tax loss of almost £16m for the 48 weeks to 4 January, 2025. The latest figure comes after Selfridges’ [...]
The Ritz: Luxury London hotel makes fifth consecutive loss September 29, 2025 The Ritz hotel in London has made a loss for the fifth year in a row despite its turnover jumping in 2024, it has been revealed. The five-star hotel has reported a pre-tax loss of almost £3m for its latest financial year, down from the £10m loss it posted for 2023. The Ritz also made [...]
Profit slashed at Mike Ashley-backed Hugo Boss September 10, 2025 Profit at the UK arm of Hugo Boss, which counts Mike Ashley’s Frasers Group as a major shareholder, has been slashed for a second consecutive year. The London-headquartered division of the German group has posted a pre-tax profit of £9m for 2024, down from the £16.8m it achieved in 2023 and £30.4m in 2022. New [...]
Princess Yachts back in profit but Rachel Reeves’ Budget forces job cuts September 10, 2025 A luxury yacht builder has surged back into profit and its sales jumped by more than £100m as hundreds of jobs were cut because of Chancellor Rachel Reeves’ Budget. Plymouth-based Princess Yachts has reported a revenue of £378m for 2024, up from the £276.3m it achieved in 2023, according to new accounts filed with Companies [...]
Aston Martin: Why going private could be the right road for luxury carmaker July 29, 2025 Luxury carmaker Aston Martin could delist from the London Stock Exchange and return to private ownership as a way to boost its balance sheet, according to an analyst. Experts at Third Bridge have said the move could have a number of benefits for the Warwickshire-headquartered brand including “improve agility, attract long-term partners, and reduce the [...]
Christian Dior: UK sales and profit slashed despite demand for watches and jewellery July 28, 2025 Sales and profit at the UK arm of Christian Dior have been slashed despite the uptick in demand for the luxury fashion brand’s watches and jewellery. The London-based division’s revenue fell from £32.4m to £280m in the year while its pre-tax profit was also cut from £46.6m to £27.6m over the same period. Its latest [...]