Tax
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Jun- 2025 -20 JuneDepartment Stores
Matalan losses widen to £67m
Matalan has revealed a loss-before-tax for the 52 weeks to 24 May 2025 of £67m, up from £60m the previous year, driven by “exceptional non-cash impacting items”. Total revenue fell 9% to £985m, down from £1.08bn in 2024, although performance improved in the second half, particularly online. Gross margin rose…
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19 JuneSupermarkets
Co-op secures £350m sustainability-linked loan from six banks
Co-op has secured a £350m loan facility from a syndicate of six major banks, in a deal that ties borrowing rates to environmental and social impact targets. The lenders include HSBC UK, Barclays, ING, Lloyds, NatWest and Rabobank, a Dutch co-operative bank. NatWest acted as facility agent and mandated lead…
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18 JuneEconomy
Inflation eases to 3.4% in May amid falling air prices
Inflation eased to 3.4% in May 2025, down from 3.5% in the 12 months to April, as rising food prices were offset by falling air fares, according to the latest figures from the Office for national statistics. However, the fall comes with a caveat: the ONS has since revealed that…
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18 JuneElectrical
AO World profits rise amid membership scheme success
AO World has revealed that its adjusted profit-before-tax rose 27% to £44m for the year ended 31 March 2025, up from £34m in the previous year. Alongside this, the company’s LFL group revenue grew 7%, to £1.11bn with its core B2C retail revenue rising 12% to £832m. This growth was…
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11 JuneClothing & Shoes
Zara owner Inditex sees sales slow in Q1
Zara owner Inditex has reported slower than expected sales growth in Q1, with sales up by 4.2% to €8.3bn (£7.06bn), down from the 7.1% rise seen last year, and falling short of analyst expectations of 5.3% growth. Over the period, profit before tax was flat at €1.7bn (£1.45bn), though gross…
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10 JuneHigh Street
Cadogan profits rise amid continued investment in Chelsea estate
Cadogan has reported a 16.6% increase in operating profit, supported by sustained demand across its portfolio and progress on environmental and community goals. Total income rose 11.8% to £241.4m in 2024, up from £216m the previous year. The value of its property portfolio grew 1.3% to £5.7bn. The estate also…
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9 JuneHigh Street
One in 10 part-time retail jobs at risk by 2028, warns BRC
The British Retail Consortium (BRC) has warned that around 160,000, or more than one in 10, part-time retail roles are in danger of being lost over the next three years. The warning follows a new report published by the BRC which lays bare the threats to retail employment, which has…
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9 JuneClothing & Shoes
River Island owners prepare rescue plan amid tough market conditions
High street fashion brand River Island has reportedly appointed advisers from PwC to draft a restructuring plan amid tough trading conditions, which could result in store closures and job losses, according to Sky News. Sources revealed to the outlet that although no definitive decisions have been made about the company’s…
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5 JuneClothing & Shoes
Dr Martens FY profits fall to £34m as sales drop 8%
Dr Martens has reported that adjusted pre-tax profits fell to £34.1m, or £40.3m on a constant currency basis, down from £97.2m in its latest financial results. Despite this, the group said it is expecting “a return to profit growth” in FY26 as its turnaround strategy progresses. According to the group’s…
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4 JuneHigh Street
B&M profits slump as inflation hits
B&M has seen its profit-before-tax fall 13.2% to £431m, compared with the £498m it posted in the same period last year. This came as a result of UK inflation, with the company’s UK revenues falling 3.1%, despite its overall group revenue rising 3.7% to £5.57bn. B&M put this revenue increase…
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