Tax

Shein sales rise 20% in 2024 but profits hit by higher costs

Shein’s global sales soared by 20% to $37bn (£27.7bn) in 2024, though profits were hit by rising costs over the year, whilst the fast-fashion group also warned on the effects of changing US tax laws.   According to the Guardian, accounts from the group’s Singapore-based parent company show that pre-tax profits…

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Sosandar returns to revenue growth in H1

Sosandar has announced that it has seen its revenues return to growth with a 15% increase in net revenue to £18.7m for the half year ended 30 September 2025, up from the £16.2m it posted in the same period last year. Furthermore, its own site revenue also returned to growth…

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150,000 retail jobs at risk without business rate reform, Co-op warns

Around 60,000 small shops and 150,000 jobs could disappear without business rates reform, according to new research from Co-op. If reforms are not delivered, 10% of small high street business owners say they would need to lay off staff, and one in eight say they would be at risk of…

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Uniqlo owner posts fourth consecutive year of record profits

Uniqlo owner Fast Retailing has reported its fourth consecutive year of record profits, with group performance lifted by strong sales in Japan and continued international growth. The company said pre-tax profit rose 16.8% year-on-year to £3.18bn for the 12 months to 31 August, while operating profit increased 16.6% to £2.76bn.…

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Wilko owner returns to profit as revenues rise 13.5%

Norton Group Holdings, owner of retail brands including Wilko, The Range and Homebase, has returned to profit, reporting pre-tax profits of £10.5m for the 53-week period ended 2 February 2025. Group revenue also rose 13.5% to £1.47bn, up from £1.3bn the previous year. The £176m increase was driven by growth…

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Shoplifting surge a ‘low-level war’ on high streets, warns Iceland chair

Britain’s rise in shoplifting has become a “low-level war going on every day”, Iceland chair Richard Walker has said, urging retailers and the government to treat the problem as a serious threat to the high street. Speaking at the Financial Times’ Future of Retail conference, Walker said that thefts were…

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Fred Perry FY profits rise 12.5% to £14m despite fall in turnover

Fred Perry has seen its operating profits rise by 12.5% to £13.93m in the year to 31 December 2024, despite a fall in gross profit from £76.9m to £75.3m.  During the period, the British clothing retailer reported a 5.4% rise in profit before tax to £17.1m compared with £16.3m in…

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Angling Direct HY revenues rise 17% to £53.6m

Angling Direct has revealed that its revenues rose 17% to £53.8m, up from £45.8m, for the half year ended 31 July 2025. Alongside this, the company saw its UK sales rise 17.7% to £51.1m, up from £43.5m, while its European sales rose 5.4% to £2.5m, up from £2.4m. The company…

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B&M shares fall as profits slide 28% to £198m

B&M has seen its shares slide in early trading after it revealed its pre-tax profits fell 28% to £198m, down from £274m, in the six months to the end of September. The performance comes despite seeing revenues improve 4% to £2.7bn, primarily driven by B&M UK volume growth and ASP…

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Victorian Plumbing sees revenues jump 5% amid market decline in FY25

Victorian Plumbing has reported a 5% rise in full-year revenue to about £310m for the 12 months to 30 September 2025, in line with market expectations, despite a wider fall in the UK home improvements and DIY market. The group stated that the broader market declined by around 3% over…

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