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Very Group profits rise despite sales dip

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October 24, 2025

Very and Littlewoods owner The Very Group said the year to the end of June saw “significant earnings growth, driven by a strong performance from both the retail and financial services businesses and diligent cost discipline across the group”.

Very Group

It meant the company saw an increase in adjusted earnings before interest, taxes, depreciation and amortisation of 15.9% to £307.1 million and an adjusted EBITDA margin that rose to 14.7% from 12.5%. That was the highest earnings margin it has ever achieved.

Not that all the figures headed upwards. The company said Very UK revenue “was broadly stable, with a slight decline” of 0.2% to £1.83 billion, while group revenue fell 1.8% to £2.09 billion, “reflecting a focus on profitability over volume in a challenging retail market”. It didn’t give details for the legacy Littlewoods operation.

But the group gross margin grew 1% in the year to 36.6% reflecting a strong [financial services] performance and the changes to the retail sales mix, notably through the increase in higher-margin Home sales”.

But despite Home doing well, Fashion and Sports declined 3.7% “in a heavily discounted and challenging market”. And its overall small sales decline came despite Very continuing to expand its brand portfolio, “adding leading names [sport] such as New Balance, Decathlon and Sweaty Betty”. But Beauty increased by 5.2%, “following significant targeted investment”.

CEO Robbie Feather said: “FY25 was a year of real progress for Very. As a multi-category digital retailer and flexible payments provider, we have a unique business model which continues to resonate with the families we serve. [We] achieve[d] our best-ever customer satisfaction score.

“Despite a challenging economic backdrop, we’re delighted with our performance, driven by our focus on improving all aspects of our offer and customer experience. We ensured we had the right products at the right time, at the right prices, and with the right payment options. Together with disciplined cost control we were able to deliver significant earnings growth across the year.

“We also made strong progress against our strategic priorities, completing key milestones in our technology transformation and upgrades to our apps and websites, relaunching Very’s retail media proposition, and launching HelloStudio, our in-house creative agency.”

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British photographer Martin Parr dies aged 73

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Nicola Mira

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December 8, 2025

British photographer Martin Parr, renowned for his colour-saturated pictures and the ironic gaze with which he observed his compatriots’ daily life, passed away on Saturday aged 73. The announcement was made by the Martin Parr Foundation in a press release.

Martin Parr – Afp

“It is with great sadness that we announce that Martin Parr (1952-2025) died on December 6, 2025, at home in Bristol,” stated the foundation. Magnum Photos, the agency for which Parr had worked for a very long time, gave the sad news at the same time.
 
Parr became famous thanks to his highly recognisable aesthetic featuring close-up shots and a saturated palette, and the amused, sympathetic eye with which he observed his favourite themes, like mass tourism and consumerism, and his subjects, from sunbathers with crimson-baked skin to village fête participants.

Over the last 30 years, Parr’s style won over many fashion labels, and he collaborated with some of the top luxury houses. Last year, the Fashion Faux Parr book traced his links with the fashion world, featuring some 25 images taken over the course of several decades.
 
Parr’s influence extended beyond the domain of photography aficionados, even if his documentary-style work, sometimes described as kitsch, earned him as many admirers as detractors.
 
Parr was born in Surrey on May 23, 1952. He was introduced to photography by his grandfather, an enthusiast himself, and began taking pictures in black and white, like the great masters of the 1970s.
 
He rose to prominence in the mid-1980s, with The Last Resort, a study of working-class people on holiday in New Brighton in Merseyside. It was a foretaste of his future work, notable for the use of flash photography for exteriors shots too.
 
After a career fraught with challenges, Parr became a full member of Magnum Photos in 1994, despite Henri Cartier-Bresson’s initial opposition. He went on to lead the agency from 2013 to 2017.

With AFP

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Louvre trade unions call for rolling strike next week

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December 8, 2025

Trade unions at the Louvre Museum in Paris on Monday called for a rolling strike next week over working conditions, piling more bad news on the beleaguered institution. The announcement came a day after the world’s most visited museum admitted to a major leak in late November and nearly two months after an embarrassing heist in which French crown jewels were stolen from its permanent collection.

The Louvre at night

In between those two incidents, it had to close a gallery containing ancient Greek ceramics over fears for the safety of a ceiling. Three unions- the CGT, Sud and the CFDT- called for a rolling strike starting Monday December 15 which was voted for at a staff meeting of around 200 employees “with unanimity,” CFDT official Valerie Baud told AFP. If followed widely by the Louvre’s 2,100-strong workforce, it could lead to the closure of the institution in the run-up to the Christmas holidays when Paris is full of festive holidaymakers.

The Louvre was forced to shut temporarily on June 16 this year after gallery attendants, ticket agents, and security personnel organised a spontaneous walk-out over what they see as understaffing and overcrowding. In a joint letter addressed to Culture Minister Rachida Dati on Monday, the unions wrote that parts of the Louvre were being regularly closed because of “insufficient staff numbers as well as technical failures and the building’s ageing condition.”

“The public now has only limited access to the artworks and has trouble moving around. A visit to the Louvre has become a real obstacle course,” they added, according to a copy seen by AFP.

On Sunday, the museum’s deputy administrator, Francis Steinbock, said that an open valve in the heating and ventilation system had caused water damage to 300 to 400 journals, books and documents in the Egyptian department. The damaged items date from the late 19th and early 20th centuries and are “extremely useful” but are “by no means unique,” Steinbock added.

On October 19, a four-person gang raided the museum in broad daylight, stealing jewellery worth an estimated $102 million in just seven minutes before fleeing on scooters. The incident has highlighted major security vulnerabilities and heaped pressure on government-appointed Louvre boss Laurence des Cars. She has called it “an immense wound that has been inflicted upon us.”

Des Cars and unions had warned repeatedly before the break-in about conditions inside the Louvre and the cost of maintaining the vast former royal palace. The home of Leonardo da Vinci’s “Mona Lisa” welcomed 8.7 million people last year.
 

Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.



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Matalan says revamped store see higher sales, names director of international

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December 8, 2025

Matalan’s store refresh programme is clearly having an impact with the retailer saying in an update on Monday that the customer response is exceeding its expectations, as well as announcing the arrival of a new director of international.

Matalan

It has completed all 30 of the 2025 planned revamps within the year, as part of its £25 million investment in its physical estate that’s intended to drive the business’s transformation.

And it’s clearly worth the money as the refreshed stores are generating higher footfall and are outperforming the wider estate by 14% in terms of sales, “well ahead of expectations, with customer satisfaction scores up significantly”.

It means the company is now planning to accelerate the number of refits next year to 40, which is 10 more than it had planned.

Updates to the stores include simplified layouts and better signage, with fitting rooms and tills relocated to central, more accessible areas. There are also plans to roll out new self-service tills early next year, as well as  self-serve click & collect.

The interiors are also “brighter and more inviting interiors, thanks to upgraded LED lighting and expanded visual merchandising, all spearheaded by Matalan’s newly appointed head of VM, Fran Theanne”. 

And it’s been investing in car parks, new signage and improved external lighting to increase visibility on retail parks as well.

Plus many of the refreshed stores feature new concession partnerships to complement the retailer’s own “newly elevated core ranges”. Those partnerships include womenswear brands Little Mistress, Blue Vanilla and Quiz, with others to follow.

Matalan

As mentioned, the store investment programme is costing the company £25 million. It will renew its entire estate with the programme running for three to five years, although the speed seen so far suggests it could be at the lower end of that timescale. 

Chief retail officer Katherine Davis said: “We’re listening and investing in what matters most to our customers. The results speak for themselves – higher footfall, happier shoppers . This all ladders up to delivering a better experience for our customers – as well as our colleagues on the shop floor – and winning market share, which is central to our ambitious business transformation.”

Meanwhile, Steve Ridehalgh has joined as director of international, reporting to Davis.

He’ll be responsible for the business’s international growth strategy as part of the second phase of its turnaround. That means a focus on opening new markets and building franchise partnerships.

He joins with significant experience in overseas expansion and franchise development, having been responsible for the global expansion of Oasis and Warehouse. He was most recently franchise director at Debenhams and then partner at PartnerWise Franchise, advising retailers on global strategy.

He began his career with Alshaya Group in Saudi Arabia and then oversaw international ops at BHS.

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