Fancy coloured diamonds boosts sales at Boodles Retail Revenue has increased significantly at Boodles, the historic jewellery retailer, thanks to a rise in demand for white and fancy coloured diamonds. The family-run business, which was founded in 1798, said revealed its trading in the year to 28 February, 2025, has so far been “encouragingly strong” and showing a “significant increase” in revenue and net [...]
Lacoste: Flagship London store fails to boost sales as label falls to loss Retail The opening of a flagship store in London’s Regent Street failed to stop the UK arm of sports fashion label Lacoste entering the red, it has been revealed. The business has reported a pre-tax loss of £3.2m for 2023, according to delayed accounts filed with Companies House. The results for the brand also show its [...]
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 [...]
Harrods faces major Christmas strike as staff demand inflation-busting festive bonus November 11, 2024 London’s iconic department store Harrods is facing the prospect of major strike action by its staff over the critical Christmas period. Hundreds of staff, who are members of the United Voices of the World (UVW) union, will vote on strike action in December over what they have described as “poor working conditions” and their festive [...]
Retailers prepare for ‘exceptionally tough’ golden quarter after Budget November 4, 2024 The golden quarter is off to a slow start and things are only set to get tougher for retailers over Christmas, according to fresh data. In-store sales grew by 1.7 per cent year on year in October, while total sales – both in-store and online – grew 4.1 per cent, according to BDO. Whilst the [...]
Selfridges sinks further into the red as sales at luxury department store falter October 31, 2024 Luxury department store chain Selfridges has lost more than £400m since it last made a pre-tax profit, it has been revealed. The business, which has UK stores in London, Birmingham and two in Manchester, passed the milestone after falling to a £41.9m loss in the year to 3 February, 2024. It comes after Selfridges previously [...]
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 [...]
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 [...]
Represent: ‘Exceptional’ performance hailed by clothing brand as sales surge September 24, 2024 Clothing brand Represent has hailed its “exceptional” performance in 2023 which saw its sales jump by almost 70 per cent. The company, which is headquartered in Horwich, near Bolton, has posted a turnover of £80.8m for its latest financial year, up from the £48.4m it achieved in 2022. Newly-filed accounts with Companies House also show [...]
Footasylum: New flagship Oxford Street store helps profit more than double September 18, 2024 Pre-tax profit more than doubled at footwear and sportswear retailer Footasylum during its latest financial year. The Greater Manchester-headquartered company has reported a profit of £6m for the year to 27 January, 2024 , up from the £2.8m it posted for the prior 12 months. During the year Footasylum opened a flagship 20,000 sq ft Oxford Street [...]