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B&M reports strong profit and sales growth

B&M’s full year pre-tax profit has increased by 10.3% to £249.4 million. The retailer posted a 17.1% growth in group revenue to £3.5 billion.  This comes after new store openings drove a revenue growth of 8.7% in the UK. Simon Arora, B&M chief executive, said: “B&M has again delivered strong results against the...

7 hours ago

JYSK opens first store in Azerbaijan

JYSK has opened its first store in Azerbaijan. The store is a franchise and is situated in Baku, the country's capital.  The store will be in a 1,105 square metre unit. The furniture retailer already has franchise stores operating in Armenia and Georgia. JYSK franchise director Frederik Kroun said: “We are already represented...

7 hours ago

Body Shop owner Natura purchase Avon for £1.6 billion

Natura has announced the acquisition of Avon. The group already owns The Body Shop and Aesop and is Brazil’s top cosmetics business. Natura will hold a 76% of the combined company, which will have a total annual revenue of over $10 billion. The combined company will have a total of 3,200 stores worldwide,...

7 hours ago

Jamie Oliver restaurant group falls into administration

Jamie Oliver’s restaurant group has fallen into administration, costing 1,000 people their jobs. The group includes Jamie’s Italian, Barbecoa and Fifteen.  It has appointed KPMG as its administrators. 22 of the 25 restaurants in the group have now closed. Jamie Oliver injected £4 million of his own money back into the group this...

1 day ago

Urban Outfitters set to rent out clothing

Urban Outfitters is set to launch a service that will allow customers to rent items of clothing. The online subscription service will let people borrow up to six items of clothing to wear for a month before swapping them out. The service will be for womenswear and will be called Nuuly.  It...

1 day ago

Superdry appoints Nick Gresham as interim CFO

Superdry has appointed Nick Gresham as its interim Chief Financial Officer. Gresham currently works as the CFO for cycling retailer Wiggle, and has also held the same role at Oak Furnitureland and Connect Group.  He has also worked in several finance roles at Homebase, Home Retail Group, GUS and Debenhams. He will...

1 day ago

Fenty set to debut first collection in Paris

Fenty, LVMH’s new brand founded by Rihanna, will debut its first collection at a pop-up shop in Paris on May 24th. The brand will offer a collection of ready-to-wear, footwear, accessories and an eyewear line. The first campaign clip was launched on YouTube.  It features a diverse cast and outlines a range...

2 days ago

Victoria Beckham set to launch sustainable beauty line

Victoria Beckham is set to launch a sustainable beauty line this fall.  This will coincide with the launch of her debut make up and skincare collection. The line will be named Victoria Beckham Beauty, and will be the British designer’s first make up collection since she ended her partnership with Estee...

2 days ago

Shoe Zone report flat first half sales and profits

Shoe Zone has reported flat sales and profits in the first half of its financial year. Revenue was £73 million compared to £73.7 million for the same period the year before.  Pre-tax profit came in at £1 million, which is the same as last year. The retailer will now continue to focus...

2 days ago

Hotel Chocolat set to open at St David’s

Hotel Chocolat is set to open a new store at the St David’s shopping centre in Cardiff. The retailer will take up a 1,874 square foot store in St David’s way, and will be located opposite Boots.  The store will span over two floors and be designed by the in-house design...

3 days ago

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