Author: Scott Dylan

EG Group has reported a significant rise in profits for the third quarter, highlighting a robust performance in its grocery division.In the three months ending 30 September 2024, EG Group experienced an 8% increase in underlying EBITDA to $300 million (£235.8 million). This growth was largely attributed to a 4% rise in grocery and merchandise gross profit, which totalled $344 million (£270.4 million).The company revealed that its grocery segment’s success was primarily due to improved gross margins. Additionally, initiatives in the dispensed beverage sector within the United States helped mitigate broader challenging economic conditions affecting the market.Meanwhile, the foodservice sector…

Burberry revealed a significant operating loss of £53m for the 26 weeks leading up to 28 September 2024.The luxury brand witnessed a sharp revenue decline of 20%, reaching £1.08bn.Retail sales fell by 19% year-on-year to £885m, with wholesale sales dropping 29% to £169m.Licensing revenue was the exception, showing a 5% increase to £32m amidst the declines.The new CEO Joshua Schulman introduced the ‘Burberry Forward’ strategy to revitalise the brand’s performance.Burberry, the esteemed British luxury fashion house, finds itself amidst financial turbulence, reporting a striking operating loss of £53m for the period ending 28 September 2024. This dramatic shift from a…

WHSmith reports strong financial results for the year ending August 31, 2024.Group profit before tax sees a 16% increase to £166 million.The travel division’s trading profit surges by 22% to £202 million.High street operations witness a 9% decline in trading profits.Plans underway to expand with over 90 new stores globally.WHSmith has announced robust financial outcomes for the fiscal year concluding on August 31, 2024, highlighting a noteworthy 16% rise in group profit before tax, reaching £166 million. Overall, group revenue increased by 7% to £1.92 billion, underscoring the company’s effective strategies, particularly in its travel sector both domestically and internationally.The…

WHSmith has reported strong financial results, largely driven by its travel sector, despite challenges faced on the high street.The company’s group profit before tax rose by 16%, reaching £166 million, with a 7% increase in total revenue to £1.92 billion.WHSmith’s travel division excelled, with a 22% rise in trading profit to £202 million, as revenues climbed 11%.The UK travel segment led growth with a 25% profit increase, while high street profits dipped by 9%.CEO Carl Cowling expressed optimism for continued growth, highlighting international expansion and strategic store openings.WHSmith has showcased resilience and adaptability in its recent financial performance for the…

Kiril Mischeff, a seasoned player in the UK’s food sector, has recently expanded its portfolio by acquiring Annessa Imports Limited.Known for its global sourcing of high-quality foods, Kiril Mischeff sees this acquisition as a strategic move to diversify its offerings.The addition of Annessa Imports, a supplier of Italian delicacies, aligns with Kiril Mischeff’s growth objectives.Leadership from both companies expressed enthusiasm about the synergies and future prospects this merger brings.Schofield Sweeney provided comprehensive legal assistance to ensure the acquisition’s timely and effective execution.Yorkshire-based legal firm Schofield Sweeney has played a pivotal role in advising Kiril Mischeff on its recent acquisition of…

Boohoo faces significant challenges as its financial losses increase amid ongoing tension with Frasers Group.The online fashion retailer’s pre-tax losses have widened significantly from £36.6m to £147.3m as revenue fell by 15%.Boohoo is seeking to raise £39.3m to maintain strategic flexibility and manage its debt and brand repositioning.Frasers Group, holding a 27% stake, is pushing for a board seat, raising questions about potential conflicts of interest.CEO Dan Finley is leading efforts to revitalise Boohoo with targeted growth strategies, highlighting positive sales in Debenhams and Karen Millen.Boohoo, a leader in online fashion retail, is encountering widened pre-tax losses, now reaching £147.3…

John Lewis revitalises its Christmas campaign by embracing nostalgia and heartfelt storytelling, featuring a whimsical journey inspired by Narnia.The campaign narrates a woman’s quest to find the perfect gift for her sister through a magical department store experience.Richard Ashcroft’s original rendition of ‘Sonnet’ intensifies the campaign, moving away from customary cover versions.A TikTok contest encourages emerging artists to cover Ashcroft’s track, offering a chance to feature in a Christmas Day broadcast.The ‘Gifting Hour’ concept highlights the essence of meaningful presents, underscoring John Lewis’s connection with customers.John Lewis has heralded a return to traditional, emotion-driven advertising with its latest Christmas campaign.…

A direct access barrister has been suspended for mishandling client funds during a divorce settlement after his appeal was rejected.Wayne Lewis, a barrister specialising in direct professional access work, has been suspended for 18 months following a disciplinary tribunal’s findings. The case became public after the High Court rejected Mr. Lewis’s appeal against both the tribunal’s conclusions and the sanctions imposed.Mr. Lewis was involved in handling the financial proceeds from the sale of a matrimonial home for his client, identified as ‘KW,’ in a divorce case. Under a damages-based agreement, Lewis was entitled to 15% of the recovered amount, translating…

The Financial Conduct Authority (FCA) is urging the Supreme Court to swiftly decide whether to hear an appeal concerning a recent ruling on car finance mis-selling. This appeal follows a Court of Appeal decision deeming it unlawful for car dealers to receive commissions from lenders without the customer’s informed consent.Last month, the Court of Appeal’s ruling sent ripples through the car finance industry. It declared that car dealers, acting as brokers, must not receive any form of commission from lenders without full disclosure to the customer. This judgement applied to both discretionary and fixed commission arrangements. The FCA has responded…

John Lewis has launched its anticipated Christmas 2024 advert, focusing on a sister’s mission to discover the ideal present amidst nostalgia.Set to Richard Ashcroft’s ‘Sonnet’, the advert portrays Sally’s whimsical adventure through memories for a last-minute gift.Sally experiences a fantastical journey from the department store into her childhood attic in search of something meaningful for her sister.The advert is part of John Lewis’ Golden Quarter campaign, highlighting its role as a key gifting destination.A nationwide TikTok talent search is announced, giving musicians a chance to feature in the Christmas Day ad broadcast.John Lewis has unveiled its much-awaited Christmas 2024 advert,…