Tax

Mulberry raises £20m from shareholders amid £31.8m FY loss

British lifestyle brand Mulberry has unveiled a £20m fundraising in a bid to support its turnaround strategy, after reporting a £31.8m loss before tax in the year to 29 March due to revenues falling in a challenging luxury market.   Group revenues dropped 21% to £120.4m in the period, with UK…

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Economy unexpectedly shrinks 0.1% in May

Monthly real gross domestic product (GDP) unexpectedly fell 0.1% in May 2025, following an unrevised fall of 0.3% in April 2025 and growth of 0.4% in March 2025, according to the latest figures from the Office for National Statistics (ONS). Gross domestic product (GDP) rose by 0.5% in the three…

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Can generalist retailers survive in today’s retail environment?

Last month B&M posted results which saw its profit-before-tax fall 13.2% to £431m, with the company’s UK revenues falling 3.1% as a result of inflation. While the headline figures may appear troubling, the company remains optimistic about its future especially as it is embarking on an expansion drive. The bigger…

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Retailers vs. returns: is cracking down costing brands more than it’s saving?

Asos became wrapped up in another controversy in late June after the online giant, which shipped 67.2 million orders last year, confirmed it had closed the accounts of “a small number” of customers for returning more clothes than they kept. According to the retailer, this is in breach of its…

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Footasylum FY profits jump 188% as sales hit record £349.5m

Footasylum has revealed its profit before tax  jumped 188% to £17.2m and its operating profits more than doubled to £21.7m, in the year to 25 January 2025. It comes as it reported a 9.4% rise in revenues to £349.5m amid strong consumer demand for its exclusive brands and new store…

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Apple’s UK tax bill hits £300m as operating profits clear £1.2bn

Apple has revealed that it paid £304m in corporation tax in the UK for the year ended 28 September 2024, an increase of 62%, as its operating profits cleared £1.2bn for the first time. In accounts filed with Companies House, the technology giant revealed that its operating profit increased from…

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Bensons for Beds losses widen as market pressures persist

Bensons for Beds has reported widening losses of £22m for the year ended 28 September 2024, up from £19.9m the previous year, as it continues to face external market pressures and internal operational issues. The group’s pre-tax loss included £8.8m in interest payments, £5.6m in depreciation, and £4.4m in International…

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Watches of Switzerland revenues surge to £1.6bn in FY25

Watches of Switzerland group has reported an 8% increase in revenues to £1.6bn for the 52 weeks ended 27 April 2025, as its US business surpassed $1bn (£780m) in annual revenue for the first time. US revenues rose 16%, driven by the acquisition of Roberto Coin Inc, while UK revenues…

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Currys FY profits soar 37% to £162m 

Currys has welcomed strong profits and sales in its full-year results, with adjusted profit before tax soaring by 37% to £162m, as UK and Ireland sales boosted its results. In the year ended 3 May 2025, total group revenues were up by 3% to £8.7bn, alongside a like-for-like growth of…

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Superdrug FY profits jump 22.6% amid focus on value items

Superdrug has seen its full-year pre-tax profits jump by 22.6% to £136.8m, as store openings, refurbishments and a focus on value helped offset weaker UK footfall and pressure on consumer spending.  It comes as the health and beauty retailer saw its sales rise by 7% during the year to 28…

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