Oliver Bonas creates hundreds of jobs as new stores help sales surge September 23, 2024 Oliver Bonas created almost 200 jobs as the opening of new stores helped its sales jump by over £20m during its latest financial year. The Chessington-headquartered company has reported a turnover of £135.7m for 2023, up from the £115m it achieved in 2022. Newly-filed accounts with Companies House also show its headcount increased from 1,357 [...]
Hugo Boss: Profit slashed in ‘year of investment’ as sales dip from record high September 23, 2024 Profit at the UK arm of Hugo Boss was slashed by almost 50 per cent in a “year of investment” as its sales fell back from a record high, it has been revealed. The London-headquartered arm has reported a pre-tax profit of £16.8m for 2023, according to newly-filed accounts with Companies House, down from £30.4m [...]
Fashion brands told to ‘stay on the right side of the law’ amid greenwashing claims September 18, 2024 Some of the most high-profile fashion brands in the UK have been warned to be clearer on their green credentials by the UK competition watchdog as it clamps down on misleading marketing. The Competition and Markets Authority (CMA) has issued a new sustainability compliance guide for retailers and told 17 brands to review their practices. [...]
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 [...]
Knoops: Drinking chocolate chain eyes £5m boost after more than doubling sales September 17, 2024 Knoops is looking to raise an extra £5m to fuel its continued expansion in the aftermath of its revenue more than doubling during its latest financial year. The London-headquartered drinking chocolate chain has reported a revenue of £9.3m for the year to 31 March, 2024, up from the £4.4m it posted for the prior 12 [...]
Allsaints: Record year for fashion brand despite retail decline September 17, 2024 Fashion brand Allsaints achieved another record year after a boost to its wholesale, franchise and licensing revenue offset a fall in its retail performance. The London-headquartered company has posted a total revenue for the year to 3 February, 2024, of £459.5m, a rise of 0.6 per cent compared to the prior 12 months. Its wholesale, [...]
Boohoo makes major US change in bid to broaden appeal September 11, 2024 Boohoo has announced significant changes to its operations in the US market as it looks to broaden its product offering across the Atlantic. The Manchester-headquartered group will stop supplying US customers from its distribution centre in Pennsylvania, as the company’s management look at ways to drive a more sustainable and profitable business. Orders will instead [...]
Asos slashes £500m debt pile as refinancing deals revealed September 11, 2024 Asos has announced the successful refinancing of the majority of its £500m debt due in 2026, with only just over £70m outstanding. The online fast-fashion retailer, which has struggled with post-pandemic shopping trends, had £500m in convertible bonds due 2026. The London-headquartered company has now exchanged £253m into convertible bonds due in 2028 rather than [...]
Gymshark names bodybuilder Chris Bumstead as new shareholder September 10, 2024 Fitness apparel brand Gymshark has named bodybuilder Chris Bumstead as a new shareholder. The Solihull-headquartered business has not revealed the percentage stake Bumstead now holds. Gymshark was founded by Ben Francis and Lewis Morgan in 2012. In 2020, it was valued at more than £1bn when US private equity firm General Atlantic acquired a 21 [...]
Bargain hunting shoppers hit jeans brand Levi Strauss as it targets the ‘young and cool’ September 6, 2024 Levi Strauss has said bargain hunting shoppers are impacting its UK sales as it bids to target “young and cool” consumers. The Northampton-headquartered UK arm of the jeans brand added that it is starting to expand its retail partnerships in the country as “department stores continue to struggle and lose footprint”. The division made the [...]