Hiscox reported a 12.5% jump in pre-tax profit for the six months to the end of June, with pre-tax profits rising to £133.5m from £118.7m in the same period a year ago, as gross premium written increased to £1.5bn from £1.3bn. Despite this, factors including the impact of foreign exchange,...
The government are reportedly in talks with software providers to speed up business rates relief to small businesses, following the new tax regime which came into effect in April. Previously, they had promised financial support for small UK businesses hit by business rate hikes in March and have now set...
The British Retail Consortium research found that there were reductions in hours worked on both full-time and part-time contracts. April’s decline was the steepest of the three months but slower than the previous two months, however all three months of the quarter saw a decline in full time employment. Helen...
Gear4music have announced that its UK and international revenue growth has continued to be “strong” and that its European distribution centres are materially improving its customer proposition in Northern Europe. Speaking on the news, Gear4music's chief executive Andrew Wass noted that “our strategy of investing to deliver long term growth...
Mike Ashley’s Sports Direct have increased their stake in French Connection, now holding a 27% stake in the global fashion retailer. The move brings them closer to the amount at which they would have to launch a takeover bid in line with takeover rules, a shareholder owning shares worth 30%...
There are concerns about the future of more than 1,000 UK manufacturing jobs after the owner of Boots sold its manufacturing business to France-based specialist Fareva, including the Nottingham factory that it opened in the 1930s. The deal will mean the transfer of about 1,100 jobs in Beeston, near Nottingham,...
The Arcadia Group have announced that the brand will provide “on-trend” looks for boys and girls aged between 18 months and 12 years old. Mitch Hughes, a buying director within Arcadia, said: "Launching a childrenswear range follows extensive customer research amongst families who shop across all the Arcadia brands, they...
In the 13 weeks to July 1st, in-store like-for-likes sales grew by 4.2% and online sales increased by 39%, leading total sales to rise by 7.6%. Helen Connolly, chief executive of Bonmarché said: “I am pleased with the improvement in trading and in particular the further progress in online sales…Whilst...
John Lewis saw fashion sales rise by 15.5% after the retailer achieved a 34.5% uplift in womenswear sales. Its denim lifestyle brand AND/OR was a stand-out performer. Beauty, wellbeing and leisure also had a strong week with sales up 13.4%. Home sales climbed by 11% as the textiles and home accessories...
Fashion retailer Joules has revealed soaring profits in its “very exciting” first year after going public. In the 52 weeks to May 28th underlying profits jumped by 34% to £10.1 million, while underlying EBITDA increased by 25.3%. Sales across all channels saw similar growth, with group sales rising 19.6% to £157 million....
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