Author: Scott Dylan

Jigsaw’s latest financial results reveal a significant downturn, highlighting strategic financial challenges.The fashion retailer reported a pre-tax loss of £3.6m, compared to a previous profit of £816,000.Sales increased slightly from £56m to £57m, amidst tough market conditions.EBITDA fell dramatically to £700,000 from £3.6m, reflecting the impact of ineffective investments.Despite these challenges, new store openings and collaborations show potential for recovery.Jigsaw faced considerable financial challenges in its last fiscal year, swinging from a profit of £816,000 to a pre-tax loss of £3.6m. This downturn was largely attributed to investments in brand marketing and personnel that did not return the expected benefits.Although…

An Essex-based startup, Scalpel AI, has secured £3.8m in funding to advance surgical technology, highlighting the importance of innovation in healthcare.Founded by two doctors, Scalpel AI addresses errors in surgical tool management through advanced AI and computer vision.Their technology creates digital replicas of medical equipment, analysed for efficiency in operating theatres.This funding round, led by Mercia Ventures, enables Scalpel AI to extend its reach globally, aiming for industry standard recognition.Scalpel AI has previously garnered support from Innovate UK, reflecting strong confidence in their pioneering solutions.Scalpel AI, a promising startup from Essex, has successfully raised £3.8m to further its efforts in…

PPHE Hotel Group reported an 11% rise in revenue following a successful summer.The demand for city centre and leisure properties increased, especially in Central and Eastern Europe.Germany and the broader Central and Eastern Europe region saw notable revenue increases due to higher occupancy.Despite project delays, the group reported substantial earnings and effective cost management.PPHE maintained its financial predictions and continued to focus on growth and sustainability strategies.PPHE Hotel Group has announced a significant 11% increase in its annual revenue, reaching a record €125.4 million. This growth was largely driven by heightened demand at its city centre and leisure hotels, reflecting…

Coca-Cola HBC has reported a significant increase in organic revenue during the third quarter, driven by strong demand in emerging markets. The company’s financial growth has led to an upward revision of its revenue and EBIT forecasts.Organic revenue for Coca-Cola HBC grew by 13.9% in the third quarter, with a year-to-date growth of 13.7%.The revenue growth forecast has been raised to 11-13%, a notable increase from the previous 8-12%.Emerging markets played a crucial role, with a 24.1% rise in organic revenue, despite challenges like foreign exchange headwinds.Established markets such as North America, Italy, and Ireland showed a modest growth of…

Adam Warby has been appointed as the new chair of Ocado Group, marking a significant leadership change at the forefront of online retail.Ocado Group has announced the appointment of Adam Warby, previously chair of Heidrick & Struggles, as its new chair.Warby is set to join the board as an independent non-executive director on 1 November, transitioning to the role of chair a month later.He will succeed Richard Haythornthwaite, who is stepping down due to his increased responsibilities at NatWest Group.Warby, with vast experience from KKR and Avanade, is eager to drive Ocado’s future growth alongside its innovative team.Ocado Group has…

The PM Law Group has launched a new office in Sheffield’s Meadowhall Business Park.This expansion complements the firm’s existing Shepcote Lane location, enhancing its service reach across Yorkshire.The new office is located on the ground floor of a 70,000 sq ft business park, hosting tenants like NG Bailey and TATA Steel UK.Chairman Donald Mackay highlights the office’s modern facilities and accessible location as key factors for the expansion.The new location features open-plan spaces and bespoke Sheffield designs, aiming to improve client relations.The PM Law Group has strengthened its presence in Yorkshire by opening a new office in Sheffield’s Meadowhall Business…

Prada Group continues to defy the luxury market’s downturn, showcasing resilience through strategic growth.Retail revenue surged by 15% in the first nine months of the year, reaching €3.8bn, driven by Miu Miu’s impressive retail sales.Miu Miu’s sales nearly doubled, increasing 97% overall and 105% in the third quarter alone.Prada’s retail sales also advanced, demonstrating a solid 4% year-on-year rise.Significant gains were noted across global markets, particularly in Japan, the Middle East, and Europe.In a challenging market environment, Prada Group has exhibited resilience and ambition by reporting a 15% increase in net revenue, totalling €3.8bn for the first nine months of…

The new Budget by Chancellor Rachel Reeves is set to impact retailers significantly.A rise in National Insurance and minimum wage means increased operating costs for retailers.Business rates reform may provide some relief, but changes are not immediate.New measures aim to tackle shoplifting, with additional police funding announced.Tax hikes on tobacco and vaping liquid are part of broader health initiatives.Retailers are bracing for a sharp rise in operational expenses due to the new Budget introduced by Chancellor Rachel Reeves. The first Budget in 14 years by a Labour government features increases in both National Insurance and minimum wage. Employers will see…

The motor finance industry is reeling from a recent Court of Appeal decision, highlighting lenders’ failures in disclosing commissions to car dealers.The ruling could trigger a substantial wave of claims against lenders, with the potential for mis-selling valued as high as £40bn. Both defendants in the case, MotoNovo Finance and Close Brothers, have announced temporary pauses in new finance proposals as they update their processes to comply with the judgment.The judgment emphasises the necessity for informed consent from consumers, superseding the current FCA motor commissions review. This review predominantly focuses on discretionary commission agreements where brokers had leeway to increase…

Sienna Miller collaborates with M&S for a second collection, launching a festive winter range.The collection features 35 unique pieces showcasing statement prints and luxurious fabrics.Highlights include a sequined mini dress and a tiger-printed waistcoat.Available online and in select stores, the collection launched on 31 October.M&S aims to offer stylish, quality, and value-driven outfits for holiday occasions.Sienna Miller’s partnership with M&S enters its next exciting chapter with the introduction of a new winter range. Launching today, this collection encapsulates festive glamour with 35 distinct pieces that blend bold prints with opulent materials, such as silk and velvet.Among the standout items are…