Adidas predicts profit of nearly £1bn after sales surge October 29, 2024 Adidas is now predicting its operating profit to swell to almost £1bn for 2024 as it upped its forecasts following a better-than-expected performance in recent months. The sportswear giant is now eyeing an operating profit of around €1.2bn (£997m) for its current financial year, a rise from its previous guidance of around €1bn. The increase [...]
IG Design: Card maker’s cost-cutting drive starts to pay off despite profit plummet October 29, 2024 Profit at IG Design, the world’s largest maker of greeting cards, wrapping paper and gift bags, has been slashed but the firm is now cash generative and expecting to make a comeback in the second half of the year. As expected, group revenue fell 11 per cent in the six months to September, causing adjusted profit to [...]
Love Island host Maya Jama invests in pea milk brand Sproud October 29, 2024 Love Island presenter Maya Jama has invested in Swedish plant milk brand Sproud – which is already backed by a shareholder of Fortnite maker, Epic Games. Jama is to be a strategic advisor and public face of the company following the deal, the value and scale of which has not been revealed. Sproud’s investors also [...]
Fatface counts the cost of takeover by Next as fashion retailer enters the red October 28, 2024 Fatface slumped into the red in the aftermath of its takeover by FTSE 100 giant Next last year, it has been revealed. The Hampshire-headquartered business was acquired by the Leicester-based giant for £115.2m in October 2023. Newly-filed accounts with Companies House show that Fatface fell to a pre-tax loss of £3.2m in the 35 weeks [...]
Profit triples at Abercrombie & Fitch and Hollister owner October 28, 2024 Profit tripled at the business behind Abercrombie & Fitch and Hollister in the UK during its latest financial year as its sales passed the £200m mark. The London-headquartered division has reported a pre-tax profit of £9.8m for the 12 months to 3 February, 2024, according to newly-filed accounts with Companies House. The total comes after [...]
CMA launches legal action against Emma Group October 25, 2024 The UK's competition watchdog has launched legal proceedings against mattress seller Emma Group after finding "harmful online selling practices".
Applied Nutrition prices London IPO towards lower end of range October 24, 2024 Sports health brand Applied Nutrition priced its IPO at £350m, towards the bottom of its guided range but still a boost for the beleagured London Stock Exchange.
The Capitalist: Paddington Bear’s politics, buildings with phallic names and RIP the pumpkin spice latte October 24, 2024 Corporate echo chambers, controversial buildings with phallic names, Paddington Bear’s true political persuasions and the end of the pumpkin spice latte? Catch up on the latest City gossip in this week’s edition of The Capitalist WORKING SMARTER NOT HARDER We’ve all been there; you’ve got work to do but two hours of your diary are booked [...]
Burberry, LVMH and Kering: Rebound of travel and China to boost luxury market October 22, 2024 Analysts have stressed the problems in the luxury market are cyclical, not structural, and predicted an upswing at brands like Burberry, LVMH and Kering as international travel looks set to rebound past pre-pandemic levels. The downturn in the luxury market, which has been suffering from the cost-of-living crisis in the West and a slowdown in [...]
Womenswear firm Sosandar cuts sales outlook after pivot away from discounts October 22, 2024 Sosandar, the women’s fashion retailer, has slashed its sales predictions for the year by £5m today but said a pivot away from clothing discounts would help keep its profits on track. The AIM-listed brand reported pre-tax loss of £0.6m in the six months to 30 September, up from a pre-tax loss of £1.3m in the [...]