In The Style: What’s next for fast-fashion label as founder quits and takeover drags on? October 1, 2024 The founder of fast-fashion label In The Style has quit as a drawn-out takeover deal continues to rumble on. Adam Frisby set up the Manchester-based brand from his bedroom in 2013 and served as its chief executive January 2022 but returned as CEO in December that year before again leaving the role 12 months later. [...]
Aybl: Record profit for Castore rival backed by Gymshark co-founder September 26, 2024 Profit at athleisure brand Aybl surged to record levels during its latest financial year after its sales jumped by almost £10m. The Redditch-headquartered company has reported a pre-tax profit of £6.1m for the year to 31 March, 2024, according to newly-filed documents with Companies House. The new total comes after Aybl posted a profit of [...]
Berghaus: Loss widens after lower sales through JD Sports September 25, 2024 A fall in sales through JD Sports saw outdoor clothes brand Berghaus make a pre-tax loss for the sixth year in a row, it has been revealed. The Sunderland-headquartered business, which is owned by the Pentland Group, has reported a pre-tax loss of £9.1m for 2023, after also making a loss of £3m in 2022, [...]
Represent: ‘Exceptional’ performance hailed by clothing brand as sales surge September 24, 2024 Clothing brand Represent has hailed its “exceptional” performance in 2023 which saw its sales jump by almost 70 per cent. The company, which is headquartered in Horwich, near Bolton, has posted a turnover of £80.8m for its latest financial year, up from the £48.4m it achieved in 2022. Newly-filed accounts with Companies House also show [...]
Mike Ashley’s Frasers Group sells shares in Asos following Topshop spike September 23, 2024 Frasers Group, the retail empire controlled by Mike Ashley, has lowered its stake in fast-fashion giant Asos. The Mansfield-headquartered group, which owns the likes of Sports Direct and House of Fraser, has decreased its holdings in Asos from 24.3 per cent to 21.1 per cent, according to a new filing with the London Stock Exchange. [...]
Oliver Bonas creates hundreds of jobs as new stores help sales surge September 23, 2024 Oliver Bonas created almost 200 jobs as the opening of new stores helped its sales jump by over £20m during its latest financial year. The Chessington-headquartered company has reported a turnover of £135.7m for 2023, up from the £115m it achieved in 2022. Newly-filed accounts with Companies House also show its headcount increased from 1,357 [...]
Hugo Boss: Profit slashed in ‘year of investment’ as sales dip from record high September 23, 2024 Profit at the UK arm of Hugo Boss was slashed by almost 50 per cent in a “year of investment” as its sales fell back from a record high, it has been revealed. The London-headquartered arm has reported a pre-tax profit of £16.8m for 2023, according to newly-filed accounts with Companies House, down from £30.4m [...]
‘It has changed my whole life’: Inside London’s Tiktok famous jewellery warehouse September 23, 2024 Jon Goldsmith struck upon gold when he discovered an abandoned jewellery warehouse in west London. Now Tiktok's changed the game again.
Two of Mike Ashley’s brands face audit problems after payroll data goes missing September 22, 2024 Two fast-fashion brands at Mike Ashley’s Fraser Group, I Saw it First and Choice, have been affected by audit issues after their payment data could not be verified. Auditors Cooper Parry were unable to verify £7m of wages and salary payments at I Saw It First, according to This Is Money. The fast-fashion brand said [...]
Next upgrades guidance again as the company welcomes ‘new phase’ September 19, 2024 Retail industry bellweather Next has upgraded its guidance by £15m after sales and growth “exceed expectations”, while it vies for £1bn in profit. The retailer upgraded the profit guidance it issued on 1 August by £15m, to £995m, “as a result of the strength of our full price sales over the last six weeks”. This [...]