Ann Summers remains in the red as sales stall and jobs shed December 9, 2025 Ann Summers’ sales have stalled as it shed jobs and remained in the red during its latest financial year, it has been revealed. The business has posted a turnover of £93.4m for the 12 months to 28 June, 2025, according to new accounts filed with Companies House. The total comes after Ann Summers also reported [...]
Retailers hit by subdued October as Budget threat looms November 11, 2025 UK retailers suffered a “subdued” October as Brits tightened their pockets ahead of what is expected to be a tax-heavy Autumn Budget. Retail sales increased 1.6 per cent year-on-year but remained below the 12-month average of 2.1 per cent, marking the weakest growth since May. The new data from the British Retail Consortium (BRC) and [...]
Barclay family’s Very Group snapped up by US private equity giant November 10, 2025 Online retailer The Very Group has been snapped up by a US private equity giant, ending an over 20 year tenure of ownership under the Barclay family. The group will now be controlled by Washington-based Carlyle alongside Abu Dhabi-based investment fund International Media Investments (IMI). It marks the latest offshoring of businesses for the Barclay [...]
Autumn Budget: Reeves must avoid tax encore for retail, HMV boss warns October 29, 2025 Ahead of the Autumn Budget, City Reporter Samuel Norman sits down with top industry names for a Budget Briefing. This week, chief executive of HMV joins a chorus of warnings to give the retail sector some reprieve. As high street music retailer HMV breezes into the all-important golden quarter, boss Phillip Halliday is eyeing a chart-topper [...]
JD Sports-owned Go Outdoors returns to profit but cuts more jobs October 27, 2025 Go Outdoors, the retailer owned by FTSE 100 giant JD Sports, returned to profit as it cut more jobs in the wake of Chancellor Rachel Reeves’ tax hikes, it has been revealed. The business said it has reduced its headcount as it “faced significant cost headwinds” including the increase in the National Living Wage, a [...]
Frasers Group chairman urges Unite to avoid ‘reckless’ strike October 3, 2025 The chairman of retail giant Frasers Group has urged Unite the Union to avoid “reckless and irresponsible” strike action as retail firms across the UK feel the crunch of rising cost pressures. Sir Jonathan Thompson, who took the role of Chair in September, has asked the Union’s General Secretary Sharon Graham to reconsider plans to [...]
Temu: UK sales and profit double as Shein court battle looms September 17, 2025 Sales and profit at the UK arm of Chinese online marketplace Temu almost doubled during its latest financial year, it has been revealed. For 2024, the division achieved a revenue of $63.2m (£46.3m), up from the $32.1m it achieved in 2023. New accounts filed with Companies House also show its pre-tax profit jumped from $2m [...]
‘It’s not a fair fight’: HMV boss issues Rachel Reeves Autumn Budget tax demand September 8, 2025 Chancellor Rachel Reeves has been urged to reform business rates in the Autumn Budget by the boss of HMV. Phil Halliday, in an up-coming episode of City AM‘s Boardroom Uncovered show, said the current system should be altered to make it fairer for UK retailers. The managing director added that businesses such as HMV are [...]
FatFace slims down workforce as brand returns to profit August 14, 2025 FatFace shed almost 300 jobs as it returned to profit in its first full year after being acquired by FTSE 100 giant Next. The retailer was snapped up by the Leicester-based group for £115.2m in October 2023 in a deal which saw it fall to an initially reported pre-tax loss of £3.2m in the 35 weeks [...]
Shoe Zone shares booted as Labour’s budget tax raid weighs August 13, 2025 Footwear retailer Shoe Zone has slashed its profit target in half for the full-year citing an overhang from Rachel Reeves’ 2024 Autumn Budget. The London-listed firm said in a trading update on Wednesday it expects pre-tax profit for the financial year ending September 2025 to be around £2.5m. This marks a stark drop from previous [...]