Bloom & Wild: Loyal customers help slash loss amid cost-cutting drive November 20, 2024 Bloom & Wild slashed its post-tax loss by more than 95 per cent as its focus on retaining existing customers and cutting costs started to pay off. The London-headquartered business, which which sends bouquets of flowers in boxes that can fit through a letter box, increased its adjusted EBITDA (earnings before interest, taxes, depreciation and [...]
Hornby issues jobs warning amid Mike Ashley-led turnaround November 20, 2024 Hornby has warned that more job cuts are on the way after making a “signifiant headcount reduction” as part of its turnaround plan being aided by billionaire Mike Ashley. The Kent-headquartered company said the job losses have helped to save around £1m of annualised central costs in the six months to 30 September, 2024, while [...]
The Range owner confident of sales success but Homebase rescuer struggles to return to profit November 19, 2024 The owner of The Range has forecasted a continued rise in its sales as it carries on taking advantage of “high profile retail casualties” after rescuing Wilko and Homebase. CDS (Superstores International) hit the headlines again recently when it snapped up part of strike DIY chain Homebase out of administration. The move came after the [...]
Huel: Record sales as profit triples at brand backed by celebrities November 18, 2024 Huel, which counts the likes of Idris Elba, Steven Bartlett and Jonathan Ross among its investors, has reported record sales as a profit almost tripled during its latest financial year. The Hertfordshire-headquartered company, which is known for its vitamin-enriched food items, has reported a revenue of £214m for the 12 months to 31 July, 2024, up from the £184.5m [...]
Go Outdoors: Brand owned by FTSE 100 giant JD Sports slumps to a loss November 18, 2024 Go Outdoors, which is owned by FTSE 100 giant JD Sports, has slumped into the red thanks to a “disproportionate” rise in costs. The business, which also operates the Go Outdoors Express, Taylor’s and Fishing Republic brands, has reported a pre-tax loss of £1.4m for the year to 3 February, 2024. The loss comes after [...]
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 [...]
River Island ‘positive’ about future despite £30m losses October 10, 2024 High street retailer River Island has slipped into the red with a £30m loss before tax as it struggles to hold up against online competition and rising costs. The company reported a loss before tax of £32.3m in 2023, down from profit of £7.5m in 2022, according to newly-filed accounts with Companies House. Turnover fell [...]
The Works: Arts and crafts retailer’s profit slumped as demand stayed soft October 1, 2024 High street arts and craft retailer The Works has reported weaker sales in 2024, leading to a slump in profit. Adjusted earning before interest, tax, depreciation and amortisation fell by 30 per cent to £6m, from £9m last year, while adjusted profit before tax fell 39 per cent to £3.2m, from £5.3m in 2023. The [...]
Asos to cut 200 jobs at head office as it battles cheaper fast fashion rivals September 25, 2024 Asos is planning to chop 200 roles from its head office as it looks to restructure its business in the face of mounting difficulties post-pandemic due to intense competition from cheaper rivals, according to reports. Asos said that current set-up was “no longer suitable for today’s business priorities and context… We need to move faster [...]