Gucci: Profit halved as ‘high competition’ eats into sales October 11, 2024 Profit at the UK arm of luxury fashion brand Gucci has cut almost in half during its latest financial year after “high competition” impacted its sales. The West Sussex-headquartered division has reported a pre-tax profit of £4.8m for 2023, down from the £9m it achieved in 2022. Newly-filed accounts with Companies House also show its [...]
Red Bull revenue take flight after multipacks success October 10, 2024 Revenue at energy drink giant Red Bull jumped by almost £90m in 2023 after more people in the UK picked up its multipacks. The London-based division of the Austrian giant has reported a revenue of £594.1m for its latest financial year, up from the £508.6m it posted in 2022. Newly-filed accounts with Companies House also [...]
Ikea sales slump as shoppers feel the pressure October 10, 2024 The UK arm of Ikea has suffered a slump in its sales for its latest financial year as under-pressure shoppers held off buying bigger-ticket items. The division of the Swedish homeware giant said the fall was also partly driven by price reductions to keep attracting customers hit hard by the higher cost of living. The [...]
Mondelēz: Sales pass milestone at Cadbury owner but profit melts October 10, 2024 Sales at the owner of brands such as Cadbury, Toblerone and Oreo surged past the £2bn mark in 2023 but its profit was slashed, it has been revealed. Uxbridge-headquartered Mondelēz UK, which is part of the wider Mondelēz International group, has reported a turnover of £2.21bn for its latest financial year, up from the £1.95bn [...]
Could Shein set its sights on Asos after putting Boohoo in the shade? October 9, 2024 The hierarchy of the UK’s fast fashion industry looks to have shifted after Shein’s UK sales eclipsed Boohoo’s for the first time. The Chinese-founded online retailer, which is on track for a bumper IPO on the London Stock Exchange, achieved a revenue of more than £1.5bn in 2023, it was revealed this week. Shein also [...]
New Balance doubles sales in two years as profit jumps October 9, 2024 The UK arm of New Balance has more than doubled its sales in the space of just two years as its profit jumped by more than £140m. The Cheshire-headquartered division has posted a turnover of £882.1m for 2023, up from £679.7m in 2022 and £413.5m in 2021. Newly-filed accounts with Companies House also show that [...]
Shein parks tanks on Boohoo’s lawn as UK sales pass £1.5bn ahead of IPO October 8, 2024 UK sales at Shein, the Chinese-founded online retailer on track for a bumper IPO on the London Stock Exchange, passed £1.5bn last year, the company has revealed. The division generated a revenue of £1.55bn for 2023, up from the £1.12bn it achieved in 2022. Shein also posted an annual profit of £18.7m, a significant rise [...]
Barbie blockbuster movie fails to boost sales at Mattel October 8, 2024 The huge success of the Barbie movie in 2023 failed to boost the sales of toy giant Mattel in the UK, it has been revealed. The Berkshire-headquartered division of the US group posted a turnover of £145.5m for the 12 months, down from £162.4m in 2022, according to newly-filed accounts with Companies House. However, its [...]
Selfridges: Saudi Arabia’s PIF invests in department store group October 8, 2024 Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
Sweet Dreams for bed retailer as sales near milestone October 7, 2024 Sales at bed retailer Dreams increased towards a new milestone as its profit remained steady during its latest financial year. The Buckinghamshire-headquartered chain has reported a turnover of £395.4m for 2023, up from the £387m it achieved in 2022. Newly-filed accounts with Companies House also show its pre-tax profit dipped slightly from £50m to £49.3m [...]