Wren Kitchens owner sheds 1,000 jobs as profit slumps after Ebuyer sale October 14, 2024 Profit at the group behind Wren Kitchens slumped to its lowest level since 2017 as its sales fell back from a record high and it shed 1,000 jobs. The West Retail Group, which is headquartered in Yorkshire, has reported a pre-tax profit of £35.1m for 2023, according to newly-filed accounts with Companies House. The total [...]
Revolut takes on Square and SumUp with payment terminal for larger businesses October 14, 2024 Fintech giant Revolut is stepping up its challenge to the likes of Square and SumUp with a new payment terminal for larger businesses and retailers.
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 [...]
Rolex: Sales at luxury watch maker rise time after time October 10, 2024 Sales at the UK arm of Rolex rose by almost £80m during 2023, for the 17th consecutive year. The London-headquartered division has reported a turnover of £685.2m for the 12 months, up from the £608.1m it achieved in 2022. Newly-filed accounts with Companies House also show that its pre-tax profit increased from £59.4m to £65.8m [...]
Monzo set for £4.5bn valuation in employee share sale October 10, 2024 Monzo is launching a secondary share sale that is set to value the digital challenger bank at £4.5bn, City AM has learned.
The View from The Shard remains troubled despite ‘positive’ outlook October 10, 2024 The company behind the viewing gallery at The Shard remained in the red for a fourth consecutive year despite it its revenue continuing to rise. The London attraction has reported a pre-tax loss of £678,839 for 2023, according to newly-filed accounts with Companies House. The total comes after the firm also posted a pre-tax loss [...]
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 [...]
HSBC’s new boss mulls $300m cost-cutting plan targeting senior bankers October 10, 2024 HSBC's new chief executive is reportedly drawing up cost-cutting plans that could save Europe's biggest lender up to $300m (£229m) by reducing top management layers.