Tax

M&S CEO’s pay hit £7.1m before cyber attack

M&S has revealed in its annual report that its CEO Stuart Machin took home £7.1m in pay for the year ended 29 March 2025, up from £5.1m the year before. The pay packet was made up of an £843,000 base salary and a £1.63m bonus alongside £4.6m in performance related…

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Is kidswear holding fashion retailers back?

Children’s apparel rarely commands the spotlight in retail reporting – but when it underperforms, the drag is felt quietly across the balance sheet. In its latest financial results, Adena Brands – owner of Monsoon and Accessorize – reported a £7.5m pre-tax loss and an 11% decline in group sales. The…

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John Lewis bosses face calls to bring back bonuses

The John Lewis Partnership is facing calls to reinstate staff bonuses, having last paid out bonuses in FY22, as it looked to turnaround the business in recent years.  According to The Financial Times, some workers have now shared an open letter and launched a petition through Organise calling on bosses…

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M&S to open 12 new stores in former Homebase sites

Marks and Spencer is set to open 12 brand new food stores on former Homebase sites across England, in a move that will create over 550 new jobs. The openings form part of M&S’s store rotation and renewal programme, which aims to create 420 “bigger, fresher” food stores and transform…

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M&S warns of £300m profit hit following cyber attack

Marks and Spencer has reported its highest profits in over 15 years, with pre-tax profits up by 22.2% to £875.5m in its full-year results, but has warned it faces a £300m hit to next year’s profits amid ongoing disruption from a major cyber attack. In the year ended 29 March…

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Let’s not profit over young people’s mental health

The prognosis for the national – and now the global – economy is looking dire, yet “Awful April” is just the latest blow to young adults who’ve been bearing the brunt of the cost-of-living crisis. Financially, emotionally, and mentally, young people have been squeezed on all sides and the long-term…

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Next ups profit guidance as Q1 sales rise by 11.4%

Next has upped its full-year profit guidance as it welcomed “better than expected” sales in the first quarter, with full price sales up by 11.4% as trade was boosted by the warmer spring weather. The “overperformance” meant sales were £55m higher than its forecast for the period, with the group…

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Card Factory sales and profits rise in FY25 amid growth strategy

Card Factory has welcomed a year of “resilient” trading, with both revenues and profits rising as the group implemented its growth strategy and expanded its store portfolio and product offerings over the period.  In the full-year ended 31 January 2025, adjusted profit before tax rose by 6.3% to £66m, while…

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Hilco Capital and Endless table offers for Poundland

Several potential buyers have reportedly tabled their offers to acquire Poundland, after the retailer has been hit by struggling sales and mounting losses in recent months.  According to Sky News, Hilco Capital and turnaround investor Endless both set forth their respective proposal offers on Friday (25 April) ahead of a…

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Clintons returns to FY profit following store closures

Clintons has returned to profit following a period of store closures and job losses, with pre-tax profits rising to £8.1m in the year ended 29 June 2024, up from a loss of £5.4m the prior year. Full-year sales fell from £96.5m to £82.6m over the period, which was a “satisfactory…

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