Love Island host Maya Jama invests in pea milk brand Sproud October 29, 2024 Love Island presenter Maya Jama has invested in Swedish plant milk brand Sproud – which is already backed by a shareholder of Fortnite maker, Epic Games. Jama is to be a strategic advisor and public face of the company following the deal, the value and scale of which has not been revealed. Sproud’s investors also [...]
Fatface counts the cost of takeover by Next as fashion retailer enters the red October 28, 2024 Fatface slumped into the red in the aftermath of its takeover by FTSE 100 giant Next last year, it has been revealed. The Hampshire-headquartered business was acquired by the Leicester-based giant for £115.2m in October 2023. Newly-filed accounts with Companies House show that Fatface fell to a pre-tax loss of £3.2m in the 35 weeks [...]
Profit triples at Abercrombie & Fitch and Hollister owner October 28, 2024 Profit tripled at the business behind Abercrombie & Fitch and Hollister in the UK during its latest financial year as its sales passed the £200m mark. The London-headquartered division has reported a pre-tax profit of £9.8m for the 12 months to 3 February, 2024, according to newly-filed accounts with Companies House. The total comes after [...]
Mike Ashley’s Frasers Group backs N Brown takeover amid Mulberry pursuit October 18, 2024 Mike Ashley’s Frasers Group has backed the £191m proposed takeover of JD Williams-owner N Brown and announced the sale of its 20 per cent stake in the company for £38m. The retail empire, which includes Sports Direct and House of Fraser, holds nearly 95,000,000 shares in the Manchester business and will sell them for 40p [...]
TJ Maxx sales pass £4bn to hit new record October 17, 2024 Sales at the UK arm of TJ Maxx passed the £4bn mark during its latest financial year to hit a new record, it has been revealed. Newly-filed accounts with Companies House show the firm’s turnover increased from £3.88bn to £4.02bn in the 12 months to 3 February, 2024. Despite the rise in sales, TJ Maxx’s [...]
John Lewis partners with Zopa to boost personal loan offering October 16, 2024 John Lewis has partnered with an online back to offer personal loans of up to £35,000 to its 23m customers. The department store chain‘s financial services arm is working with Zopa Bank to provide its customers with more finance options. The bank will be embedded into the John Lewis Money website with a personalised loan [...]
Cotswold Outdoor has now lost over £100m since it last made a profit October 16, 2024 The company behind Cotswold Outdoor has now lost more than £100m since it last made a pre-tax profit almost ten years ago, it has been revealed. The Wiltshire-headquartered retailer, whose brands also include Runners Need as well as Snow and Rock, has reported a pre-tax loss of £7.3m for 2023, after also making a loss [...]
Mike Ashley’s Frasers Group buys stake in Hudson Malta to boost global expansion October 15, 2024 Frasers Group, the empire controlled by Mike Ashley, is to expand into Malta and Africa after acquiring a “significant non-controlling” stake in a retail and distribution business. The London-listed group has invested in Hudson Malta, which has operations across 36 African countries. The owner of Sports Direct and House of Fraser said the deal reflects [...]
Boots: Online and makeup sales boost earnings ahead of Christmas October 15, 2024 High street pharmacy chain Boots has said a surge in sales online and for makeup helped increase its turnover during its latest financial year. The Nottingham-headquartered company has revealed its year-on-year turnover increased by 6.9 per cent in the 12 months to 31 August, 2024. During its final quarter, its retail sales rose by 6.2 [...]
Fenwick: John Lewis rival slumps into the red and cuts jobs October 15, 2024 Department store chain Fenwick slumped back into the red and cut jobs as it battled the cost-of-living crisis and a “changing retail environment”. The Newcastle-headquartered business has reported a pre-tax loss of £28.3m for the year to 26 January, 2024, having previously made a pre-tax profit of £57.1m in the prior 12 months. Newly-filed accounts [...]