Author: Sam Allcock

Footasylum, a prominent sportswear retailer, has reported outstanding financial performance this year.The company’s pre-tax profits have more than doubled, reaching £6 million.Sales increased by 7%, with a 15% rise in online revenue and an 87% growth in wholesale.Key focus areas, Womenswear and Juniors, saw substantial sales growth of 16% and 14%, respectively.Strategic store expansions, including a new flagship store in London, drove the success.In a significant financial achievement, Footasylum announced that its pre-tax profits have soared by an impressive 112% to reach £6 million for the fiscal year ending 27 January. This is a substantial increase from the previous year’s…

Footasylum records a significant increase in profits and sales, signalling a successful year ahead.The retailer experienced a 112% rise in pre-tax profits, reaching £6 million.Sales increased by 7% to £319.5 million, with online revenue and wholesale sales seeing substantial growth.Strategic store expansions, including a flagship on Oxford Street, fuelled this success.Footasylum’s creative content channels and investments in technology underpin its optimistic outlook.Footasylum has reported an exceptional 112% increase in pre-tax profits, climbing to £6 million from the previous year’s £2.8 million. This remarkable financial performance reflects the retailer’s strategic efforts in expanding and optimising its store footprint.A notable 7% rise…

The Very Group has launched its new retail media initiative, the Very Media Group, in collaboration with SMG, leveraging a 12-year partnership.The new media proposition aims to enhance brand partnerships by utilising cutting-edge technology and consumer insights.Integration with Criteo’s platform allows brands to access digital shelves, aiding in precise campaign creations.The Very Media Group offers brands collaborative opportunities for concept development and social media targeting.This marks a substantial step in retail media, offering transformational opportunities for brands and The Very Group alike.The Very Group has unveiled the Very Media Group, a reimagined retail media proposition. This development sees the continuation…

Asda’s recent developments post-buyout have raised concerns according to a former executive, Judith McKenna.The supermarket chain has been struggling with declining market share and significant debt.Asda is going through a challenging separation of its IT systems from Walmart.Judith McKenna highlighted the entrepreneurial advantage of the Issa brothers during the acquisition.Despite difficulties, McKenna acknowledges Asda’s past contributions to Walmart’s global operations.Asda, the prominent UK supermarket chain, has been facing significant challenges following its acquisition by TDR Capital and the Issa brothers, according to Judith McKenna, Walmart’s former international executive. McKenna, who oversaw Asda’s £6.8 billion sale in 2021, expressed concern over…

Asda is currently struggling to maintain its market position following its acquisition by TDR Capital and the Issa brothers, according to its former boss.Asda’s market share has seen a decline over the past year, impacted by significant debt and IT system separations from Walmart.Judith McKenna, Walmart’s former international boss, highlighted these challenges at the FT Live Future of Retail conference.The supermarket’s transition issues have affected resources, staff pay, and customer orders.Despite past contributions to Walmart’s global operations, Asda faces ongoing financial and operational hurdles.According to Judith McKenna, the former international head of Walmart, Asda is encountering multiple hurdles after its…

Footasylum has reported an impressive financial performance, describing it as ‘on track for another successful year’.Total revenue surged by 7% year on year to £319.5m, marking a continuation of strong growth.Online and wholesale sectors saw substantial increases, contributing significantly to the company’s earnings.The retailer strategically expanded its physical presence with new and larger stores in key locations.Leadership changes, including a new CEO, have positioned Footasylum for future success.Footasylum’s financial results for the year ending 27 January 2024 showcase a remarkable achievement, with the company’s pre-tax profits more than doubling to £6m. This significant gain points to a robust business model…

A groundbreaking AI lab in Stockport is allowing companies to trial the latest Nvidia technology.Vesper Technologies, led by the Kaye brothers, has launched a ‘try before you buy’ initiative with Nvidia.The facility is the first in Europe to offer Nvidia’s Grace Hopper superchips for testing.The initiative aims to mitigate the high costs and uncertainties associated with AI adoption.Nvidia continues to be a key player in the global AI industry with new ground-breaking solutions.In a move set to transform the way businesses engage with advanced AI technology, Vesper Technologies has opened an innovative lab in Stockport. Founded by Allan and Phil…

In a significant development in the legal services sector, a barrister-led legal compliance business has been acquired by a private equity firm, leading to a strategic merger with a recruitment consultancy.The legal compliance firm, known as Briefed, specialises in training, compliance, and technology services, and has now merged with DMJ Recruitment. This move follows Briefed’s acquisition by Omni Partners, a private equity firm known for investing in burgeoning and profitable businesses seeking their initial external capital.Orlagh Kelly, once a practising barrister for over a decade and the founder of Briefed, will serve as the chief executive of the newly formed…

Matthew Miles, a family law specialist from Newcastle, has been rebuked by the Solicitors Regulation Authority (SRA) following his conviction for sending a malicious text message to his ex-partner.Last year, Miles, who was an associate at Silk Family Law, was found guilty at Harrogate Magistrates’ Court of this offence. He received a fine of £1,269, alongside an additional surcharge of £127 and costs amounting to £85. This incident calls into question the integrity expected from legal professionals regarding public trust and confidence in their roles.The incident has led to a regulatory settlement agreement, which Miles accepted, acknowledging his failure to…

The Co-op launches a 24-hour delivery service in major UK cities to meet increasing demand.The initiative begins in London, Leeds, and Manchester, areas with strong online grocery needs.Local demographics and delivery logistics influence store selection for this service.The Co-op partners with Just Eat, Deliveroo, and Uber Eats for deliveries.Extended service aims to capture a significant portion of the quick commerce market.The Co-op has introduced a 24-hour online grocery delivery service, targeting city centre customers to cater to rising demands for swift deliveries. Initiating this month, the rollout includes stores located in London, Leeds, and Manchester, specifically chosen for their substantial…