House of Fraser: Profit doubles at Mike Ashley’s department store chain amid store closures September 10, 2024 House of Fraser more than doubled its pre-tax profit despite a fall in revenue after closing stores across the country, it has been revealed. The performance of the department store chain, which is owned by Mike Ashley’s Frasers Group, has been outlined in accounts filed with Companies House more than seven months after the deadline. [...]
Pizza Hut Europe serves up profit after £106m loss September 10, 2024 The European arm of Pizza Hut has surged back into the black after making a loss of almost $140m (£106.4m) , according to newly-filed documents. The London-headquartered division has reported a pre-tax profit of $12.2m (£9.3m) for 2023, after posting a pre-tax loss of $139.4m in 2022. New documents filed with Companies House also show [...]
‘Game over’ for TGI Fridays’ UK owner Hostmore as shares crater almost 90 per cent September 9, 2024 TGI Fridays’ UK owner Hostmore is set to be wound down in a move that could wipe out its shareholders, after revealing it had dropped plans to buy the US restaurant chain for £177m. Shares in the London-listed company tanked by almost 90 per cent following the announcement on Monday. Hostmore, a hospitality firm which [...]
Asos rejected £215m Topshop offer from Shein in favour of lower bid September 8, 2024 Online clothing retailer Asos had declined a much higher bid for Topshop and Topman from fast fashion giant Shein in favour of its new joint venture with Heartland.
How Asos’ post-pandemic debt led it to sell Topshop September 5, 2024 Three years after buying the British high street brands Topshop and Topman from Phillip Green’s collapsed Arcadia empire, Asos has said it will sell 75 per cent of its stake in the brands to a joint venture with Heartland. Asos bought the brands at a buoyant time for the company when its stock was near [...]
Asos sells Topshop and Topman into new joint venture with Heartland September 5, 2024 Online clothing retailer Asos has launched a joint venture with Heartland, whereby Heartland will buy the Topshop and Topman brands from the firm. Asos bought the two brands, along with Topman, Miss Selfridge and HIIT, in 2021 from Philip Green’s collapsed Arcadia group for £265m (excluding stock). The joint venture will grant Asos “certain design [...]
Seeing Machines: Revenue accelerates but losses mount as transition drags August 28, 2024 Driver monitoring technology company Seeing Machines has reported an expected revenue of $67.6m (£51.1m) for its financial year 2024, marking a 17 per cent jump from $57.8m (£43.7m) reported for 2023. Annualised recurring revenue climbed 11 per cent year-on-year to $15.1m (£11.4m) from $13.6m (£10.3m) the previous year. The company’s technology is now deployed in [...]
The Capitalist: Banksy isn’t cool anymore but do you know what is? Toe wrestling August 22, 2024 City rumours, whispers and gossip with The Capitalist, this week including Banksy fans cashing out, deals breaking but friendships forming and City boys oiling up for the World Toe Wrestling Championships
Downton Abbey maker Carnival Films scraps dividend as earnings dip ahead of third film August 22, 2024 Earnings at the production company behind TV hits such as Downton Abbey dipped in 2023 after the income it generates from its back catalogue fell, it has been revealed. Carnival Films has reported a turnover of £43m for its latest financial year, according to newly-filed accounts with Companies House. The figure comes after the business [...]
Jamie Oliver serves up sales success after flagship London restaurant opens August 22, 2024 Jamie Oliver’s new flagship London restaurant and the continuing popularity of his recipe books helped boost the turnover of the celebrity chef’s group during its latest financial year. The group has reported a turnover of £27m for 2023 after posting a total of £23.6m for 2022, according to newly-filed accounts with Companies House. Its sales [...]