Author: Dave Antrobus

N Brown Group reports a return to profit, overcoming revenue challenges.Profit before tax rose to £5.3m, reversing a previous loss of £71.1m.Revenue fell 9.8% amid challenging market conditions and a focus on profitability.CEO Steve Johnson outlines strategic investments, including new digital platforms.Confident outlook supported by consumer trends and planned marketing investments.N Brown Group has successfully navigated a challenging fiscal year, emerging with a notable return to profitability despite a 9.8% decline in revenue. The company’s profit before tax reached £5.3 million, reversing a significant loss from the previous year. This turn-around is attributed to a strategic emphasis on profitable sales…

The iconic Bernard Boutique is closing its Esher, Surrey location this week, marking the end of an era for the independent womenswear retailer.Established by Helene Rapaport in 1969, Bernard Boutique has been a fixture on Esher’s High Street for more than four decades.The final day of trading for the store, measuring 2,500 sq ft, will be this Saturday, 8 June.Bernard Boutique expanded its reach online in 2015, with half of its annual sales derived from its website.Co-founder Helene Rapaport cited health reasons for the closure and looks forward to family time after closing.The renowned Bernard Boutique, a staple of Esher’s…

Authentic Brands Group (ABG) plans to acquire the renowned sportswear brand, Champion.The acquisition involves a binding agreement valued at $1.2bn (£940m), with a potential to increase to $1.5bn (£1.2bn).ABG intends to transition Champion into a licensed business model.HanesBrands anticipates the deal to maximise Champion’s value and ensure long-term success.Completion of the acquisition is expected in the latter half of 2024, pending regulatory approval.Authentic Brands Group (ABG) has entered into a binding agreement to acquire Champion, a well-recognised sportswear brand, from its current owner, HanesBrands. The deal, valued at $1.2 billion (£940 million), includes the acquisition of Champion’s intellectual property and…

Japanese retailer Uniqlo is set to open a spacious new shop in London’s Coal Drops Yard this autumn.This 12,000 sq ft store marks the most significant retail agreement for Coal Drops Yard since its inception in 2018.The space, formerly leased to Wolf & Badger, will now serve as Uniqlo’s prime location to showcase LifeWear.Uniqlo’s expansion includes a recently inaugurated outlet on Oxford Street, reinforcing their presence in London.The move aligns with King’s Cross’s strategy to blend popular high street with innovative independent brands.Japanese retailer Uniqlo will soon add a new 12,000 sq ft store to London’s vibrant Coal Drops Yard,…

Marks & Spencer collaborates with Sienna Miller for a new SS24 collection.Sienna Miller returns after AW23 campaign success for a summer line.The collection takes cues from festivals, 70s prints, and vintage clothing.Key pieces include a ruffle maxi dress, beaded tank dress, and versatile sarong.Available online and in-store from 6 June with prices between £25 and £89.Marks & Spencer has once again joined forces with actress Sienna Miller to present a new spring/summer 2024 collection. After the triumph of the autumn/winter 2023 campaign featuring Miller, the British retailer has opted for a fresh collaboration. This partnership harnesses Miller’s unique style, drawing…

Marks & Spencer’s CEO, Stuart Machin, received a record-breaking £4.7m payout for the previous year.The retailer’s operating profit increased by 33%, indicating a strong financial performance.Co-chief executive, Katie Bickerstaffe, also saw her pay package rise significantly.M&S’s strategy attracted additional customers and boosted sales and market share.The company’s investment in staff pay and shareholder dividends marked a positive turnaround.Marks & Spencer’s financial report highlighted Stuart Machin’s unprecedented compensation of £4.7 million, a figure that underscores the company’s impressive turnaround. This payout reflects not only Machin’s leadership since his appointment in May 2022 but also the substantial operational performance improvements. The operating…

Recent developments have shaken the British independent fashion sector, raising concerns about its sustainability.The Vampire’s Wife and Roksanda are among brands severely impacted by the wholesale market upheaval.With Matches in administration, the ripple effects are felt across the luxury retail sector.Independent brands need strategic overhauls to manage cashflow and supplier relations effectively.Brexit and global market changes exacerbate challenges, necessitating new strategies for survival.The current climate for British independent fashion designers appears increasingly challenging, marked by significant upheavals in the wholesale market. The closure of The Vampire’s Wife, led by Susie Cave, and the sale of Roksanda through pre-pack administration to…

In a challenging market environment, JD Sports Fashion reported a significant drop in operating profit despite a rise in revenue.Revenue for the 52 weeks ending 27 January 2024 rose by 2.7% to £10.4 billion, yet profits fell by 8.1% to £973.9 million.The decline in profit was attributed to increased wages and investment costs, with online sales experiencing a notable decrease.A strategic focus on retail expansion saw over 200 new stores opened, counterbalancing the online sales decline.Regional performance varied, with the UK experiencing a downturn while European and North American markets showed growth.In a challenging financial year, JD Sports Fashion reported…

Golden Goose has officially announced its listing on Euronext Milan, marking a significant strategic move to enhance its financial standing.This announcement confirms ongoing rumours about the company’s intention to strengthen its capital and reduce its debt through a €100m IPO.Golden Goose witnessed an 18% increase in net revenues, reaching €587m for 2023, highlighting strong financial growth.Since its acquisition by Permira in 2020, Golden Goose has continued to deliver robust, profitable growth.Key company figures, including CEO Silvio Campara, emphasize the importance of community-centred branding and operational strategies.Golden Goose, the Italian luxury sneaker brand, has affirmed its intention to list on the…

Dr Martens has announced a significant drop in profits, prompting a strategic overhaul to cut costs and boost growth.Profits after tax plummeted by 46.3% year on year, landing at £69.2 million for the year ending 31 March 2024.Revenue experienced a downturn of 12.3%, totalling £877.1 million, with EBITDA decreasing by 19.4% to £197.5 million.The downturn was largely due to weak US consumer demand and elevated depreciation and interest costs.In spite of challenges, direct-to-consumer sales rose by 9%, underpinned by strong performance in shoe and sandal categories.Dr Martens has reported a substantial year-on-year drop in profits after tax, reaching £69.2 million…