Author: Scott Dylan

Adidas has once again raised its profit forecast for 2024, citing stronger-than-expected performance in the first half of the year.The forecast has been increased to €1bn, a significant rise from the previously estimated €700m.Strong revenue growth, particularly in the second quarter of 2024, has contributed to this optimistic outlook.Adidas’s decision to terminate its association with the Yeezy brand in 2022 has influenced recent financial adjustments.A substantial part of the profit increase is attributed to inventory sales following the partnership termination.Adidas continues to demonstrate its financial resilience by revising its profit expectations for 2024 for the second time this year. Initially…

The latest consumer price inflation data from the ONS indicates a stabilisation of inflation rates.The Consumer Prices Index, including housing costs, rose by 2.8% over the past year.Clothing and footwear prices have made significant downward contributions to inflation.Women’s sports shorts and leggings have seen notable price drops, aiding this trend.Kris Hamer comments on the benefits of falling inflation rates for households.The Office for National Statistics reports that the latest data reveals a steadying of inflation rates, despite pressures from various economic factors. The Consumer Prices Index, inclusive of owner occupiers’ housing costs (CPIH), exhibited an increase of 2.8% over the…

Sosandar embarks on a promising journey with plans to open its first physical stores this autumn.The womenswear brand reported a 9% revenue increase, reaching £46.3 million by March 2024.Despite a revenue boost, the company faced a pre-tax loss of £300,000 last year.Sosandar’s strategy includes reducing price promotions to enhance profitability margins.Future growth is anticipated with expectations of £54.6 million in revenue by March 2025.Sosandar, the distinguished womenswear brand, is set to expand its presence by opening its inaugural physical stores this autumn. The brand’s decision to step into physical retail comes amid a financial update that showcased a 9% revenue…

Getech, a firm specializing in the identification of underground natural resources, has successfully secured £500,000 in funding. This strategic financial injection aims to enhance its data capabilities and bolster its exploration of new territories.The £500,000 funding obtained from Reward Finance Group is a timely boost for Getech, an AIM-listed company based in Leeds. The funds will be directed towards enhancing Getech’s data capabilities and implementing a novel approach to resource exploration. This marks a critical stage in the company’s growth, as it seeks to innovate in its search for metals essential for the transition to low-carbon technologies.In the words of…

Puma is enhancing its commitment to sustainability with Re:Fibre. This innovation focuses on textile-to-textile recycling for jersey production.The 24/25 football season will see Puma producing millions of jerseys using Re:Fibre technology.The initiative aims to reduce dependency on plastic bottles for recycled polyester, focusing on textile waste reduction.Limited edition badges from match-worn tops by Jack Grealish and Christian Pulisic will be introduced on 20 July.American upcycler Andrew Burgess collaborates on badge design and workshops to promote clothing customisation.Puma has announced a significant scale-up of its innovative textile recycling initiative, Re:Fibre, for the upcoming 24/25 football season. For the first time, millions…

Plans for a major expansion of the Drayton Manor Business Park in Tamworth have been unveiled. This £70 million investment aims to create a substantial 168,500 sq ft of new industrial space.Expected to generate numerous job opportunities, the project is aligned with both economic and environmental sustainability goals.Significant Investment AnnouncedPlans have been announced for a substantial investment in the West Midlands, where FI Real Estate Management intends to expand the Drayton Manor Business Park in Tamworth. This ambitious project involves a £70 million investment aimed at adding 168,500 sq ft of industrial space. This development is expected to significantly boost…

B&M’s recent sales figures reveal the impact of adverse weather, as like-for-like sales dropped by 3.5% compared to the previous year. Yet, the company remains optimistic about targeting consumers affected by economic challenges, with total quarterly sales exceeding £1 billion in the UK.The recent months have seen B&M’s sales suffer due to inclement weather conditions. The rainy period significantly affected consumer behaviour, resulting in a 3.5% decline in like-for-like sales compared to last year. This drop is partly attributed to an unusually high sales volume in the previous year, combined with cold and wet weather during April and May that…

Sosandar, a womenswear brand, has reported a 9% increase in revenue to £46.3 million for the year ending 31 March 2024, along with plans to open two new stores.Partywear, dresses, tailoring, and knitwear were key contributors to the revenue increase, despite a reported annual loss.The company recorded a £0.3 million loss for FY24 but saw improved profitability in the second half of the year.Strong cash generation in the latter half of 2024 resulted in a net cash position increase to £8.3 million.Looking ahead, Sosandar aims for sustainable growth in margins and profitability without prioritising revenue growth at the expense of…

Premium unisex fashion brand Pangaia has launched its first standalone store in the UK, situated in London’s iconic Carnaby Street.The 1,500 sq ft store features a minimalist interior design with a focus on sustainability.A prominent blue sphere art installation in the store symbolises Pangaia’s dedication to earth-friendly practices.CEO Nathalie Longuet expressed enthusiasm over the UK launch, highlighting the synergy between nature and fashion in the urban setting.Michelle McGrath of Shaftesbury Capital praised Pangaia’s innovative approach, reinforcing Carnaby Street’s reputation as a hub for trendsetting brands.Pangaia, known for its commitment to sustainable fashion, has opened its first standalone UK store in…

Hugo Boss has revised its financial outlook for 2024 amid a tough second quarter, reflective of the current challenging market conditions.The company’s updated revenue growth prediction suggests a noticeable decrease from previous estimates.Operating profit expectations have similarly been revised downward, highlighting the challenges faced.Second-quarter sales figures indicate varied performance across geographic regions and product lines.CEO Daniel Grieder remains optimistic about long-term growth in light of strategic investments.Hugo Boss recently announced a adjustment of its financial forecast for the fiscal year 2024 after encountering a challenging second quarter. The premium fashion brand now projects a modest sales increase of 1% to…