Profit slashed in half at Swiss watch brand Swatch September 6, 2024 Profit at Swiss watch brand Swatch was cut by more than half during its latest financial year despite its sales increasing further past the £200m mark. The London-headquartered division has reported a pre-tax profit of £11.1m for 2023, down from the £23.6m it posted for 2022. According to newly-filed accounts with Companies House, Swatch has [...]
Gear4music hits all the right notes to drive sales growth September 6, 2024 The online musical instrument retailer Gear4music, which saw its share price skyrocket last month after it swung back into profit, said it was on track to generate revenue of more than £150m in 2025. The London-listed company, which is headquartered in York, said at its annual general meeting today it would announce it was trading [...]
John Lewis brings back ‘never knowingly undersold’ pledge in major U-turn September 5, 2024 Department store chain John Lewis is to bring back its famous ‘never knowingly undersold’ price pledge in a major U-turn. The national retailer has made the move after ditching the commitment over concerns it what less relevant to shoppers two years ago. The price promise, which was first introduced in 1925, will come back into [...]
M&S hail fresh start as turnaround bears fruit but still ‘potential for growth’ September 5, 2024 Marks and Spencer‘s bosses have hailed the start of a new era for the multi-market firm as the turnaround plan it began in 2022 shows signs of having created long-term, sustainable growth potential. M&S clothing and home managing director Richard Price said that perception of the brand has improved in recent years, but there are [...]
Harrods passes £1bn mark as Qatari owners get £180m pay day despite falling profit September 2, 2024 Sales jumped to £1bn at the company behind luxury department store Harrods during its latest financial year, but profit was slashed over the same period, it has been revealed. The London icon posted a turnover 8.2 per cent higher for the year to 3 February, 2024, according to newly-filed accounts with Companies House, compared to [...]
Mike Ashley’s Frasers Group ups stake in Boohoo after shares slump September 2, 2024 Mike Ashley’s retail empire Frasers Group has further increased its stake in fast fashion giant, Boohoo. The Mansfield-headquartered group now holds 26.1 per cent of the shares in Boohoo, up from 25 per cent, according to a newly-filed document with the London Stock Exchange. Frasers Group, which owns the likes of Sports Direct and House [...]
Nivea suncream and deodorant help boost Beiersdorf’s UK sales and profit September 2, 2024 The higher sales of sunscreen and deodorant helped UK arm of Beiersdorf, the company behind the likes of Nivea, boost its turnover and profit during 2023. The Birmingham-based company has reported a turnover of £273.9m for 2023, up from the £237m it posted for 2022. Newly-filed accounts with Companies House also show its pre-tax profit [...]
Specsavers maintains £15m pay day despite falling profit September 2, 2024 Specsavers has maintained the £15m payday for its Guernsey-based owners despite another year of a decline in its profit. The national brand has handed the interim dividend to its parent company Specsavers Optical Group, the same total as in its prior financial year. The ultimate parent company of the UK business is beneficially owned by [...]
John Lewis has ‘no plans’ to cut more jobs September 1, 2024 John Lewis has branded claims it is planning to cut more jobs and restructure its management team as "wholly inaccurate".
Pernod Ricard’s Russia exit leads to sales fall for Scotch whisky maker Chivas Brothers August 29, 2024 Pernod Ricard stopping all exports of its international brands to Russia led to a fall in sales for Scotch whisky maker Chivas Brothers during its latest financial year. The Scotland-headquartered company has revealed its net sales fell by 1.6 per cent in the 12 months to the end of June 2024 off the back of [...]