Mike Ashley’s empire tightens grip on Boohoo as crunch vote nears November 15, 2024 Mike Ashley’s Frasers Group has continued to up its stake in Boohoo as a war of words over the future of the fast-fashion giant rumbles on. The owner of the likes of Sports Direct and House of Fraser now has a 28 per cent stake in the Manchester-headquartered group, which itself features brands such as [...]
Mike Ashley’s Frasers Group backs N Brown takeover amid Mulberry pursuit October 18, 2024 Mike Ashley’s Frasers Group has backed the £191m proposed takeover of JD Williams-owner N Brown and announced the sale of its 20 per cent stake in the company for £38m. The retail empire, which includes Sports Direct and House of Fraser, holds nearly 95,000,000 shares in the Manchester business and will sell them for 40p [...]
TJ Maxx sales pass £4bn to hit new record October 17, 2024 Sales at the UK arm of TJ Maxx passed the £4bn mark during its latest financial year to hit a new record, it has been revealed. Newly-filed accounts with Companies House show the firm’s turnover increased from £3.88bn to £4.02bn in the 12 months to 3 February, 2024. Despite the rise in sales, TJ Maxx’s [...]
John Lewis partners with Zopa to boost personal loan offering October 16, 2024 John Lewis has partnered with an online back to offer personal loans of up to £35,000 to its 23m customers. The department store chain‘s financial services arm is working with Zopa Bank to provide its customers with more finance options. The bank will be embedded into the John Lewis Money website with a personalised loan [...]
Cotswold Outdoor has now lost over £100m since it last made a profit October 16, 2024 The company behind Cotswold Outdoor has now lost more than £100m since it last made a pre-tax profit almost ten years ago, it has been revealed. The Wiltshire-headquartered retailer, whose brands also include Runners Need as well as Snow and Rock, has reported a pre-tax loss of £7.3m for 2023, after also making a loss [...]
Mike Ashley’s Frasers Group buys stake in Hudson Malta to boost global expansion October 15, 2024 Frasers Group, the empire controlled by Mike Ashley, is to expand into Malta and Africa after acquiring a “significant non-controlling” stake in a retail and distribution business. The London-listed group has invested in Hudson Malta, which has operations across 36 African countries. The owner of Sports Direct and House of Fraser said the deal reflects [...]
Boots: Online and makeup sales boost earnings ahead of Christmas October 15, 2024 High street pharmacy chain Boots has said a surge in sales online and for makeup helped increase its turnover during its latest financial year. The Nottingham-headquartered company has revealed its year-on-year turnover increased by 6.9 per cent in the 12 months to 31 August, 2024. During its final quarter, its retail sales rose by 6.2 [...]
Fenwick: John Lewis rival slumps into the red and cuts jobs October 15, 2024 Department store chain Fenwick slumped back into the red and cut jobs as it battled the cost-of-living crisis and a “changing retail environment”. The Newcastle-headquartered business has reported a pre-tax loss of £28.3m for the year to 26 January, 2024, having previously made a pre-tax profit of £57.1m in the prior 12 months. Newly-filed accounts [...]
Motorway cuts its loss as sales rise at ITV’s Six Nations sponsor October 14, 2024 Online-only used car marketplace Motorway cut its pre-tax loss in 2023 as the Six Nations TV coverage sponsor handled more than £2.2bn in sales transactions in the year. The London-based business, which has a network of more than 7,000 car dealers, has reported a pre-tax loss of £31.7m for its latest financial year, down from [...]
Sharkninja: UK’s love affair with air fryers helps brand serve up bumper profit October 14, 2024 The UK’s continued love affair with air fryers helped the European arm of Sharkninja surge back into the black as its sales jumped by over £300m. The Leeds-headquartered division has reported a pre-tax profit of £81.5m for 2023, having made a pre-tax loss of £19.7m in 2022. The last time Sharkninja reported a pre-tax profit [...]