Truworths UK Holdco Ltd — best known as the owner of the Office and Offspring footwear businesses — has filed its accounts for the year to the end of last June and they show profits more than doubling.
@officeshoes
The company, which has been owned for a decade by South Africa-based Truworths, said pre-tax profit jumped to £102 million from £47.7 million, a strong bounce-back after it was loss-making in the years to June 2019 and 2020.
Revenue at the company also jumped from £265.3 million to £294.3 million. the company’s net profit also surged, rising from £37.7 million to £79.8 million.
The strong year came as the business opened new stores and as of the year-end, it operated 75 stores (up from 70), plus 11 concessions spread across the UK and the Republic of Ireland. Job numbers also rose to over 1,800 from just over 1,600.
The year in question was a tough one for the UK fashion industry but in the accounts the company said that trading conditions were much improved in the period. And while consumer confidence remains shaky, it added that it has improved steadily.
That said, consumer spending was (and is) under pressure. But the company said “the branded fashion footwear sold by Office proved to be a resilient category and traded well throughout the period,” helped by the new and revamped stores.
The business remains upbeat for its future prospects, and said it “will continue to leverage its strong relationships with the world’s leading footwear brands, its loyal customer base across the Office and Offspring brands and ongoing investment in digital marketing. Growth in the year ahead will be driven by a strong online presence and the expansion of the Office store portfolio through new store openings and the remodelling and extension of existing stores in strategic retail locations”.
Uniqlo Europe — a UK-registered company — has filed its results for the year to the end of August 2024 and they showed its turnover jumping 30% to €1.696 billion, helped by younger consumers tapping into trending items.
Uniqlo
As well as turnover increasing, there was good news on profits with operating profit before one-offs up 50% to €283 million. The company said that the gross profit margin was “maintained at a fairly stable level with positive growth of €268 million”. And net profit for the year jumped from €140.8 million to €222.9 million.
This all came as the number of stores the company operated across the continent rose by 10% to 77 with the number of markets it’s e-commerce team delivers to remaining flat at 26.
That may not seem like a lot of stores for a giant company that has been in Europe for several decades. But the company has rolled out its new stores quite slowly and steadily and its focus on large-format flagships has also meant that a slow approach makes good commercial sense.
The company said the sales increase came as European customers embraced Uniqlo Life Wear products. And of course, those new stores had an impact as well with the first Uniqlo store in Luxembourg opening in October 2023. A reopened flagship in Opera, Paris also helped. Other recent additions to its store portfolio include Edinburgh in Scotland and Rome in Italy, both located in historic buildings with distinctive architecture.
Importantly as well, as mentioned earlier, the company said there was a significant increase among a younger customer base who’ve been enthusiastic about items like the mini-round shoulder bag, bra-top and pleated trousers that went viral during the summer.
Under Armour has officially signed high school basketball player Eli Ellis to its roster of athletes.
Under Armour signs high school basketball player Eli Ellis. – Under Armour
Known for his deep shooting range, elite confidence, and relentless drive, Ellis embodies the brand’s competitive spirit and commitment to excellence.
To mark the signing, Under Armour is spotlighting Ellis in the latest installment of its “Let Them Talk” campaign, created in collaboration with viral content powerhouse RDCWorld. Blending RDCWorld’s signature humor with the high-intensity world of basketball, the campaign captures the mindset of Under Armour’s top athletes—those who don’t just hear the doubters, but use the noise as fuel to rise even higher.
This second installment of Let Them Talk debuted last week during NCAA tournament coverage, featuring The University of South Carolina. With new episodes rolling out through March and April across streaming platforms, Under Armour’s digital channels, and social media, the series showcases an elite lineup of UA athletes.
Hourglass Cosmetics opened on Thursday its new global flagship in New York City.
Hourglass opens global flagship store in New York City. – Hourglass
Located at 14 Prince St., in New York City’s NoLita neighborhood, the store is designed with a sophisticated, apartment-inspired aesthetic. The flagship store allows clients to explore the Hourglass collection, enjoy customized services, and experience makeup application in an ultra-flattering environment.
Founder and president Carisa Janes played a hands-on role in the store’s design, collaborating with TMR Design and Ryan Crozier of Crozier Studios. The boutique’s warm color palette, marble details, and gold accents reflect Hourglass’s aesthetic.
Natural light from wrap-around windows enhances color accuracy, while artist stations along the window façade allow for seamless color matching. A sculptural marble beauty bar, crafted from natural stones and bespoke metals, serves as the boutique’s centerpiece, displaying the Hourglass collection. Meanwhile, a minimalist wall features rotating artwork, product installations, and creative campaigns.
Customers can browse, receive consultations, or relax in a living room setting. A private seating area, complemented by bespoke coffees, champagne, and a fully stocked beverage bar, offers an intimate beauty experience for personal or group appointments.
Completing the space is a custom gifting bar, which provides packaging and complimentary wrapping, while click-and-collect and in-store returns enhance convenience.
As part of its programming, Hourglass will launch an “Artist in Residence” series, featuring notable personalities in makeup and artistry. The series will debut in April with celebrity makeup artist Emily Cheng. The flagship’s curated programming will also include masterclasses, panel discussions, art installations, trunk shows, and exclusive product drops.