Superdry issues warning as struggling fashion label cuts jobs after quitting London Retail Superdry has warned its sales will continue to fall significantly during its current financial year after quitting the London Stock Exchange in an attempt to stay afloat. The Cheltenham-headquartered fashion brand delisted earlier this year as part of a radical restructuring plan to keep the company trading. At the time, the company said that cutting [...]
Adanola: Profit more than doubles at Gen Z favourite athleisure brand Retail Profit has more than doubled at athleisure brand Adanola following a “remarkable’ year that also saw its sales surge. The Manchester-based label, which is worn by the likes of Michelle Keegan, Molly-Mae Hague and Maya Jama, has reported a pre-tax profit of £18.9m for the year to 31 March, 2024. The latest total comes after [...]
Bloom & Wild: Loyal customers help slash loss amid cost-cutting drive Retail 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 [...]
How Arla Foods boss went from selling cigarettes to Lurpak and Cravendale November 15, 2024 A globe-trotting career that began selling cigarettes at British American Tobacco and has led to heading up the UK arm of dairy giant Arla Foods is maybe not what Bas Padberg could have predicted when he started out in the early 1990s. The managing director of the group behind Lurpak, Cravendale, Skyr and B.O.B milk [...]
WH Smith: Profit jumps as expansion into travel shops pays off November 14, 2024 WH Smith’s push into travel has paid off with the bulk of its growth in the last year due to higher profit at airports, train stations and motorway services. WH Smith’s revenue rose seven per cent to £1.918bn in the year ended 31 August, 2024, driven by growth in travel shops plus the company’s expansion [...]