Asda needs to ‘dig down into its soul’ and recover sense of purpose, say analysts December 9, 2024 Asda needs to “dig down into its soul” and reshape its pitch to customers if it wants to tackle the rising threat from the likes of Aldi and Lidl following a rollercoaster 2024, analysts have warned. The Leeds-headquartered supermarket giant has not been far from the headlines all year amid debt struggles, strikes, falling sales [...]
Watches of Switzerland: Why shares in Rolex seller are on the road to recovery December 5, 2024 Shares in Rolex seller Watches of Switzerland have surged to their highest value since January after the retailer revealed positive half-year results. The Leicester-headquartered group reported a revenue of £785m for the six months to 27 October, 2024, a four per cent rise. In a trading update issued to the London Stock Exchange, Watches of [...]
Vodafone and Three: What £16.5bn merger actually means for customers and prices December 5, 2024 After an almost 18-month battle the UK’s largest ever telecoms deal – which will see Vodafone and Three complete a £16.5bn merger – has been given the green light. Described by Vodafone as a “once-in-a-generation opportunity to transform the UK’s digital infrastructure”, the deal has now satisfied the Competition and Markets Authority (CMA) enough for [...]
Watches of Switzerland: US market lifts group sales December 5, 2024 Watches of Switzerland has reported an uptick in revenue growth due to growing demand in the US market despite luxury watch sales stagnating in the UK and Europe. In a trading update to markets today, the luxury watch firm said group revenue for the 26 weeks ending 27 October was up 4 per cent year-on [...]
Mike Ashley’s Frasers lowers profit guidance following Budget December 5, 2024 The retailer expects to deliver adjusted pretax profit in the range of £550-£600m for the 2025 financial year, down from £575-625m previously.
Fancy coloured diamonds boosts sales at Boodles December 4, 2024 Revenue has increased significantly at Boodles, the historic jewellery retailer, thanks to a rise in demand for white and fancy coloured diamonds. The family-run business, which was founded in 1798, said revealed its trading in the year to 28 February, 2025, has so far been “encouragingly strong” and showing a “significant increase” in revenue and net [...]
Debenhams makes first profit since Boohoo rescue December 4, 2024 Debenhams has returned to the black for the first time since it was rescued out of administration by Boohoo in 2021. For the year to 29 February, 2024, the firm’s marketplace arm has reported a pre-tax profit of £4.5m, having posted a pre-tax loss of £732,000 for the prior 12 months. Its revenue has also [...]
Gymshark: Finance chief abruptly leaves apparel giant December 3, 2024 The chief financial officer of Gymshark has abruptly departed the business after two years in post. Mat Dunn joined the Solihull-headquartered company in December 2022, having been hired from Asos where he was chief operating officer and chief financial officer. He had previously worked as CFO at Robinsons squash maker Britvic and at South African [...]
Households cut back on spending at fastest pace in five years December 3, 2024 According to figures published by Barclays, essential spending fell by 3.1 per cent in November, the sharpest monthly fall since 2019.
Gail’s Bakery to open 35 new locations amid £500m sale talks December 3, 2024 Gail’s Bakery is planning to open 35 new locations across England during its current financial year as it considers a £500m sale. The London-headquartered business opened 21 in its latest 12 months – a period which also saw its revenue surge from £181.7m to £231.7m. Newly-filed accounts with Companies House for the year to 29 [...]