Naked Wines toasts progress as losses are slashed December 10, 2024 The boss of Naked Wines has said the brand is “in a better position, both financially and strategically” after slashing its losses during the first half of its financial year. The Norwich-headquartered company has reported a pre-tax loss of £5.6m for the six months to 30 September, 2024, down from the £9.7m loss it posted [...]
Poundland owner Pepco slumps to huge loss after £640m hit December 10, 2024 Discount retail giant Pepco slumped to a loss of more than £450m after weak performance from Poundland in the UK, it has been revealed. The European group has posted a pre-tax loss of €554m (£458.7m) for the 12 months to 30 September, 2024, after having made a profit of €159m (£131.6m) in the prior year. [...]
Moonpig shares tumble as card maker swings to £33m loss December 10, 2024 Moonpig swung to a loss in the first half of its financial year as the personalised card maker takes longer than expected to turn around its experiences business. The news sent the FTSE 250 firm’s stock price down 12 per cent in early trading on Tuesday. Its shares remain up 57 per cent so far [...]
Asda needs to ‘dig down into its soul’ and recover sense of purpose, say analysts December 9, 2024 Asda needs to “dig down into its soul” and reshape its pitch to customers if it wants to tackle the rising threat from the likes of Aldi and Lidl following a rollercoaster 2024, analysts have warned. The Leeds-headquartered supermarket giant has not been far from the headlines all year amid debt struggles, strikes, falling sales [...]
Vodafone and Three: What £16.5bn merger actually means for customers and prices December 5, 2024 After an almost 18-month battle the UK’s largest ever telecoms deal – which will see Vodafone and Three complete a £16.5bn merger – has been given the green light. Described by Vodafone as a “once-in-a-generation opportunity to transform the UK’s digital infrastructure”, the deal has now satisfied the Competition and Markets Authority (CMA) enough for [...]
Fancy coloured diamonds boosts sales at Boodles December 4, 2024 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 [...]
Debenhams makes first profit since Boohoo rescue December 4, 2024 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 December 3, 2024 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 [...]
Hornby: Year of change for Mike Ashley-backed brand as majority owner tightens grip December 2, 2024 The investment giant which owns the vast majority of shares in Hornby, the model firm currently working with billionaire Mike Ashley on its turnaround plan, has significantly upped its stake in the train-maker. Phoenix Asset Management Partners has increased its holdings in the Kent-headquartered company from 71.6 per cent to 81.3 per cent, according to [...]
Typhoo Tea takeover: New owner brews cost-cutting turnaround after rescue deal December 2, 2024 With the immediate future of Typhoo Tea secured after it was rescued out of administration, attention is now turning to what could next be on the cards for the historic brand. Morning Wire exclusively revealed late on Sunday that the troubled tea maker is to be taken over by a vapes, batteries and vitamins seller [...]