Tax

Harrods falls to FY loss as it sets aside £60m for abuse victims

Harrods has fallen to a pre-tax loss of £34.3m in its latest full-year results, as it set aside more than £60m as part of plans to compensate abuse victims of former chairman and owner Mohamed Al Fayed. Michael Ward, managing director of Harrods, said its pre-tax loss was in part…

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New Balance UK sales surpass £1bn for first time

New Balance’s UK subsidiary has reported sales exceeding £1bn for the first time, with turnover reaching £1.02bn in the year to 31 December 2024. Profit before tax also rose from £148.2m to £192.3m, while profit after tax increased to £143.9m, up from £114.4m in 2023. In the UK, turnover increased…

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Reeves set to scale back business rates plans for large retailers

Chancellor Rachel Reeves is reportedly planning to scale back plans to raise business rates on big retailers after warnings it could push up food prices, according to the Financial Times. The news comes after the Treasury had planned to put properties worth more than £500,000 into the highest tax band…

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Topps Tiles welcomes ‘record’ year as sales hit £265m

Topps Tiles has welcomed a “record” year of turnover, with full-year sales up by 6.8% to £265m, following a strong trading performance in its second half.   This means the group has now achieved record years for sales in four out of the last five years. Including CTD, total group sales…

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Søstrene Grene turnover jumps 31% to £314m as UK expansion ramps up

Danish homewares brand Søstrene Grene has reported record turnover for the 2024/25 financial year, with turnover rising 31% from £240m to £314m. Growth was driven by strong international expansion and particularly high performance in the UK, where sales increased 130% year-on-year. Meanwhile, gross profit increased from £91m to £111m, while…

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Card Factory profits fall despite revenue uplift

Card Factory has announced that its adjusted profit-before-tax has fallen 46.4% to £7.5m for the six months ended 31 July, compared with £14m in HY25. The company put this down to the timing of efficiency-focused investments including an upgrade to its point of sale till system. Despite this, the group’s…

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DFS profits rebound to £32.9m

DFS has announced it has returned to profit in the year ended 29 June 2025, posting a profit-before-tax of £32.9m, up from a loss of £1.7m. Alongside this, the company saw its revenues jump 4.4% to £1.03bn, up from £987.1m in the previous year. It also saw its reported order…

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Co-op falls to £75m HY loss after cyber attack disrupts trading

Co-op has reported a £75m underlying pre-tax loss for the six months to 5 July 2025, after a cyber attack disrupted its trading . The result compares with a £3m profit in the same period last year. The attack also contributed to a 2.1% decline in revenues to £5.48bn, with…

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JD Sports sees PBT rise to £138m despite UK sales decline

JD Sports has revealed that its statutory profit-before-tax rose 9.5% to £138m, up from £126m, for the half year ended 2 August 2025. It comes despite a 1.7% decline in UK sales which the company attributed to tough comparatives as a result of the men’s Euro 2024 football tournament. Overall,…

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BRC warns food inflation could stay above 5% until 2026

The British Retail Consortium (BRC) has warned that food inflation could remain above 5% well into 2026 if the retail industry faces further tax rises in the Autumn Budget. The trade body said around 4,000 large shops could see higher bills under a government proposal to impose a new business…

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