In The Style cuts job as sales continue to fall ahead of stock exchange return Retail In The Style slashed jobs in a bid to stem its losses amid continuing falling sales as its return to the London Stock Exchange edges nearer. The Manchester-headquartered fast-fashion retailer has posted a pre-tax loss of £2.6m for the year to 31 March, 2024, down from the £7.7m loss it reported in the prior 12 [...]
Debenhams makes first profit since Boohoo rescue Retail Debenhams has returned to the black for the first time since it was rescued out of administration by Boohoo in 2021. For the year to 29 February, 2024, the firm’s marketplace arm has reported a pre-tax profit of £4.5m, having posted a pre-tax loss of £732,000 for the prior 12 months. Its revenue has also [...]
Gymshark: Finance chief abruptly leaves apparel giant Retail The chief financial officer of Gymshark has abruptly departed the business after two years in post. Mat Dunn joined the Solihull-headquartered company in December 2022, having been hired from Asos where he was chief operating officer and chief financial officer. He had previously worked as CFO at Robinsons squash maker Britvic and at South African [...]
Very Group: Loss widens at Nadhim Zahawi-led Littlewoods owner November 25, 2024 The Very Group, which is chaired by former Chancellor Nadhim Zahawi, lost more in the first quarter of its new financial year than it did in its last 12 months, it has been revealed. The Liverpool-headquartered group, which is owned by the billionaire Barclay family, has reported a pre-tax loss of £22.9m for the 13 [...]
Boohoo: Prettylittlething crashes into the red as Mike Ashley battle continues November 22, 2024 Fresh light has been shone on Boohoo’s financial struggles amid its ongoing battle with billionaire Mike Ashley. The financial performance of some of the Manchester-headquartered group’s most well-known brands have been revealed including Prettylittlething crashing into the red and sales being slashed at Nastygal. While Boohoo reports its group results to the London Stock Exchange, [...]
Superdry issues warning as struggling fashion label cuts jobs after quitting London November 20, 2024 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 November 20, 2024 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 November 20, 2024 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 [...]
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 [...]