Could Shein set its sights on Asos after putting Boohoo in the shade? October 9, 2024 The hierarchy of the UK’s fast fashion industry looks to have shifted after Shein’s UK sales eclipsed Boohoo’s for the first time. The Chinese-founded online retailer, which is on track for a bumper IPO on the London Stock Exchange, achieved a revenue of more than £1.5bn in 2023, it was revealed this week. Shein also [...]
New Balance doubles sales in two years as profit jumps October 9, 2024 The UK arm of New Balance has more than doubled its sales in the space of just two years as its profit jumped by more than £140m. The Cheshire-headquartered division has posted a turnover of £882.1m for 2023, up from £679.7m in 2022 and £413.5m in 2021. Newly-filed accounts with Companies House also show that [...]
Shein parks tanks on Boohoo’s lawn as UK sales pass £1.5bn ahead of IPO October 8, 2024 UK sales at Shein, the Chinese-founded online retailer on track for a bumper IPO on the London Stock Exchange, passed £1.5bn last year, the company has revealed. The division generated a revenue of £1.55bn for 2023, up from the £1.12bn it achieved in 2022. Shein also posted an annual profit of £18.7m, a significant rise [...]
Barbie blockbuster movie fails to boost sales at Mattel October 8, 2024 The huge success of the Barbie movie in 2023 failed to boost the sales of toy giant Mattel in the UK, it has been revealed. The Berkshire-headquartered division of the US group posted a turnover of £145.5m for the 12 months, down from £162.4m in 2022, according to newly-filed accounts with Companies House. However, its [...]
Selfridges: Saudi Arabia’s PIF invests in department store group October 8, 2024 Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
Sweet Dreams for bed retailer as sales near milestone October 7, 2024 Sales at bed retailer Dreams increased towards a new milestone as its profit remained steady during its latest financial year. The Buckinghamshire-headquartered chain has reported a turnover of £395.4m for 2023, up from the £387m it achieved in 2022. Newly-filed accounts with Companies House also show its pre-tax profit dipped slightly from £50m to £49.3m [...]
Wedgwood owner slumps to loss despite strong Harrods and Selfridges sales October 7, 2024 The owner of historic fine china and porcelain brand Wedgwood has slumped into the red despite strong sales through Harrods and Selfridges. Fiskars UK, which is based in Stoke-on-Trent, is also behind the Waterford, Royal Doulton and Royal Albert brands. Newly-filed accounts with Companies House have revealed that the business fell to a pre-tax loss [...]
Bottega Veneta returns to the black amid interest rate and inflation woes October 4, 2024 The UK arm of Italian luxury fashion house Bottega Veneta returned to the black in 2023 despite the cot-of-living crisis cutting into its sales. The West Sussex-headquartered division has posted a pre-tax profit of £336,007 for its latest financial year, according to newly-filed accounts with Companies House. The total comes after the business reported a pre-tax [...]
Brioni: Harrods sales fail to stop cost-of-living crisis slashing profit October 4, 2024 Profit at the UK arm of Italian menswear luxury fashion house Brioni was slashed in 2023 despite its sales at Harrods helping to boost its overall turnover. The London-headquartered division has posted a pre-tax profit of £79,230 for the 12 months, down from the £370,533 it achieved in 2022. Newly-filed accounts with Companies House also show that its turnover [...]
Canon remains in the red despite capturing near-£100m sales boost October 3, 2024 The UK arm of camera and printer giant Canon failed to return to the black during its latest financial year despite sales rising by almost £100m. The Uxbridge-headquartered division reduced its pre-tax loss from £7.3m to £5.1m in 2023, newly-filed accounts with Companies House have revealed. The last time Canon UK reported a pre-tax profit [...]