Tax

DFS annual profits to exceed guidance for FY25

DFS Furniture expects its full-year profits before tax to be “slightly above” the top end of its £25m to £29m guidance range, and up by about £20m year-on-year, for the year to 29 June.  The retailer of upholstered furniture attributed its performance to a combination of strong trading and tighter…

Read More »

Sosandar lowers FY26 guidance after M&S cyber attack

Sosandar has lowered its profit expectation for the current year, revealing that it now expects revenues to rise 18% to £43.6m with pre-tax profits of £400k, after a cyber attack at its second largest third-party partner M&S disrupted sales in the first quarter.  The company previously expected £46.2m in revenues…

Read More »

Reeves eyes business rates rise for supermarkets and department stores

Chancellor Rachel Reeves is reportedly considering increasing business rates for department stores and supermarkets as she looks to raise £1.7bn from businesses this autumn, according to The Telegraph. The outlet revealed that the chancellor is looking to plug the £5bn hole left after the government was forced to abandon cuts…

Read More »

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…

Read More »

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…

Read More »

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…

Read More »

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…

Read More »

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…

Read More »

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…

Read More »

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…

Read More »