Latest news with #record sales
Yahoo
2 days ago
- Business
- Yahoo
Mountain Warehouse to open new stores after revenues jump
Mountain Warehouse has said it plans to open dozens more stores after the retailer's expansion drive helped guide it to record sales and profits for the past year. The outdoor clothing specialist said it was boosted by 65 new store openings in the year to February despite 'challenging' conditions in the sector. Founder Mark Neale said the group – which currently runs more than 400 stores – has a strong pipeline of new larger shops in the UK and overseas as it seeks to continue with its growth ambitions. The private equity-backed firm said it expects to open up to 50 additional sites, including relocations, across the UK and internationally this financial year. In the UK, has company has focused on opening larger stores, including some in out-of-town retail parks. It has opened larger outlets in former Topshop and Wilko stores, allowing the retailer to stock a wider product range including stores with dedicated ski wear sections. On Friday, Mountain Warehouse reported that revenues jumped by 16.4% to £449.2 million for the year to February. The company said this was partly driven by new stores, with 27 new openings and 12 relocations in the UK over the year. Mr Neale said: 'I'm proud of the team for delivering another set of record results, despite the challenging retail environment. 'The strong pipeline of new, larger stores that we have both in the UK and international markets means that we should be knocking on the door of £500 million revenue in the current year. 'And I actually think we have more opportunities for growth now than at any point I can remember – both in the UK and elsewhere, in stores and online.'
The Independent
2 days ago
- Business
- The Independent
Mountain Warehouse to open new stores after revenues jump
Mountain Warehouse has said it plans to open dozens more stores after the retailer's expansion drive helped guide it to record sales and profits for the past year. The outdoor clothing specialist said it was boosted by 65 new store openings in the year to February despite 'challenging' conditions in the sector. Founder Mark Neale said the group – which currently runs more than 400 stores – has a strong pipeline of new larger shops in the UK and overseas as it seeks to continue with its growth ambitions. The private equity-backed firm said it expects to open up to 50 additional sites, including relocations, across the UK and internationally this financial year. In the UK, has company has focused on opening larger stores, including some in out-of-town retail parks. It has opened larger outlets in former Topshop and Wilko stores, allowing the retailer to stock a wider product range including stores with dedicated ski wear sections. On Friday, Mountain Warehouse reported that revenues jumped by 16.4% to £449.2 million for the year to February. The company said this was partly driven by new stores, with 27 new openings and 12 relocations in the UK over the year. Mr Neale said: 'I'm proud of the team for delivering another set of record results, despite the challenging retail environment. 'The strong pipeline of new, larger stores that we have both in the UK and international markets means that we should be knocking on the door of £500 million revenue in the current year. 'And I actually think we have more opportunities for growth now than at any point I can remember – both in the UK and elsewhere, in stores and online.'
Yahoo
6 days ago
- Business
- Yahoo
Just Group PLC (LSE:JUST) (Q2 2025) Earnings Call Highlights: Record Profits and Strategic ...
Release Date: August 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Just Group PLC (LSE:JUST) reported a 34% increase in profits to 504 million, with operating earnings per share up 36%. The company achieved record sales of 5.3 billion, driven by a 36% increase in new business sales. The DB business completed its largest transaction to date, a 1.8 billion scheme, showcasing its strong market position. The solvency ratio stands at a robust 204%, providing significant headroom for future growth. The dividend was increased by 20%, reflecting confidence in the business's future prospects. Negative Points The share price reaction was not as positive as expected despite strong financial results. There is uncertainty regarding the impact of regulatory changes, such as the 42 million hit from Solvency UK reforms. The company faces potential challenges in maintaining margins if credit spreads tighten further. The market for DB transactions is expected to be more weighted towards the second half of the year, which may affect short-term growth visibility. There are concerns about the sustainability of low new business strain, which has been consistently below target. Q & A Highlights Warning! GuruFocus has detected 5 Warning Sign with LSE:JUST. Q: Can you provide an update on the DB pipeline and the impact of recent transactions on your growth plans? A: (David Richardson, CEO) Our Beacon platform continues to grow, with over 300 schemes now loaded. We've opened up the market for larger transactions, such as our first over 1 billion deal in 2024. Our pipeline remains strong, and we expect growth to be more weighted towards the second half of the year. Q: What factors influenced the decision to increase the dividend by 20%? A: (Mark Godson, CFO) We consider cash, earnings, and capital over the medium term. Dividends are a small part of our surplus generation, with most surplus reinvested in new business. The increase reflects confidence in the business's long-term value. Q: Why haven't you set new targets after achieving your previous profit doubling goal ahead of schedule? A: (David Richardson, CEO) We've exceeded our target by increasing profits by 2.4 times in three years. We are confident in our ability to grow earnings at an attractive rate from this higher level, supported by our strong business franchise and market opportunities. Q: How do you view the use of funded reinsurance given regulatory scrutiny? A: (David Richardson, CEO) We are comfortable with our risk management practices and have always engaged openly with regulators. Funded reinsurance is an option to enhance margins but not a dependency for our profitability or future expectations. Q: Can you explain the low new business strain and whether you're considering taking on more risk? A: (Mark Godson, CFO) Our low new business strain is due to disciplined pricing and market conditions. We focus on sustainable growth and high returns on investment. We are not looking to change our target of less than 2.5% strain, even though we've consistently been below it. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-07-2025
- Business
- Yahoo
The U.S. boycott remains strong. Why many Canadians are digging in their heels
It's shaping up to be a record sales year at Maker House, an Ottawa gift shop where almost everything in the store — from furniture to food to greeting cards — is entirely made in Canada. Hot sellers these days include a T-shirt with the newly iconic "elbows up" slogan, and chocolate bars wrapped in quintessential Canadian expressions such as "eh." Founder Gareth Davies says year-over-year sales surged by 150 per cent in February, when U.S. President Donald Trump first announced plans to impose tariffs on Canadian goods, and ramped up his threats to make Canada the 51st state. At the time, many Canadians pledged to boycott U.S. travel and goods, and support the Buy Canadian movement as a way to express their anger. Davies says sales since then have continued to stay strong: they're currently up by 80 per cent, and almost doubled during the week leading up to Canada Day. "It's like a big hug from your neighbours across the country saying, 'You know, we're in this together and we're going to protect our country and our economy,'" he said. "I, in my gut, believe it will last as long as the vitriol lasts from the south." Boycotts often wane over time as people lose interest and return to old habits. But many Canadians' resolve to boycott the U.S. and focus on Canadian products has remained strong, and shows no signs of dissipating. A majority of Canadians polled in a new survey said they're actively supporting the Buy Canadian movement, and support stores removing U.S. products. Plus, Canadian travel to the U.S. has steadily declined since Trump took office in January. Trump can take much of the credit, as he continues to muse about Canada becoming the 51st state and threaten new tariffs; just this week he announced plans to impose a 50 per cent tariff on copper. "He's actually keeping it top of mind. He's keeping the boycott going," said June Cotte, a professor of marketing at Western University's Ivey Business School in London. She added the media helps fuel the boycott by giving Trump airtime every time he takes pot shots at Canada. The travel boycott Rather than wane, the Canadian boycott of U.S. continues to grow. In May, the number of return trips among Canadians travelling to the U.S. dropped by 24 per cent for air travel and by a whopping 38 per cent for land travel. Cotte says another reason for the boycott's staying power is it's not a big challenge for many Canadians, because they can often find domestic replacements for American products like food, and they can travel to other countries or explore their own. However, boycotting U.S. travel is problematic for Ottawa resident Emily Olmstead, who has family in the U.S. Fortunately, her parents, Diane and Don, who live in Ohio, are happy to trek to Canada. "They're here visiting me, and not the other way around," said Olmstead, while browsing Maker House with her parents. Like many Canadians, Olmstead says she's shopping local as much as she can, and avoiding U.S. travel for political reasons. "I am pretty displeased with the turn in American politics and the status of the relationship between Canada and the United States," she said. "I think I've just got to do the best that I can to support Canada right now." Buy Canadian continues It's harder to pinpoint the success of the Buy Canadian movement, as no hard data exists. But an online survey conducted last month on behalf of Lightspeed, an e-commerce software provider, found that of the 1,000 Canadians polled from June 5 to 10, more than three-quarters said they support Canadian retailers removing U.S. goods from store shelves. On top of that, two-thirds said they're currently shopping for, or focusing on buying Canadian goods, according to the survey conducted by Censuswide. "It's a pretty high priority," said Aaron Clark of Ottawa who came to Maker House to buy a birthday present. "I'm very much a supporter of keeping things Canadian, supporting our economy." And rather than losing interest, Clark said he plans to ramp up his commitment. "I'd say it's going to become more of a habit, at least for the next few years." WATCH | Why some conferences are relocating to Canada: A Canadian Federation of Independent Business (CFIB) survey also suggests the future is bright for the Canadian-made industry. Of the 2,190 businesses the CFIB polled in May, 40 per cent reported increased sales of Canadian made products since the start of the trade war. "It's been a very pleasant surprise to see it keep going," said Ryan Mallough, CFIB's vice-president of legislative affairs and communications. "And there doesn't seem to be, at least so far, much of an appetite to return to the U.S. products." The survey also found that many businesses noted a decline in sales of American goods. Will it last? Even if Trump continues to treat Canada as an adversary rather than an ally, the rationale for the boycott would logically expire when he completes his four-year term. "Most boycotts eventually start to peter out, so that will happen," said Cotte. But Mallough suggests that, for some Canadians, the U.S. boycott may become habit. He compares it to the recent postal strike where many small businesses switched to private carriers out of necessity, and chose not to return to Canada Post after the strike ended. "One of the things that the trade war has done is afforded a lot of us as consumers … the opportunity to look at Canadian products in a new light," said Mallough.
CBC
10-07-2025
- Business
- CBC
The U.S. boycott remains strong. Why many Canadians are digging in their heels
It's shaping up to be a record sales year at Maker House, an Ottawa gift shop where almost everything in the store — from furniture to food to greeting cards — is entirely made in Canada. Hot sellers these days include a T-shirt with the newly iconic "elbows up" slogan, and chocolate bars wrapped in quintessential Canadian expressions such as "eh." Founder Gareth Davies says year-over-year sales surged by 150 per cent in February, when U.S. President Donald Trump first announced plans to impose tariffs on Canadian goods, and ramped up his threats to make Canada the 51st state. At the time, many Canadians pledged to boycott U.S. travel and goods, and support the Buy Canadian movement as a way to express their anger. Davies says sales since then have continued to stay strong: they're currently up by 80 per cent, and almost doubled during the week leading up to Canada Day. "It's like a big hug from your neighbours across the country saying, 'You know, we're in this together and we're going to protect our country and our economy,'" he said. "I, in my gut, believe it will last as long as the vitriol lasts from the south." Boycotts often wane over time as people lose interest and return to old habits. But many Canadians' resolve to boycott the U.S. and focus on Canadian products has remained strong, and shows no signs of dissipating. A majority of Canadians polled in a new survey said they're actively supporting the Buy Canadian movement, and support stores removing U.S. products. Plus, Canadian travel to the U.S. has steadily declined since Trump took office in January. Trump can take much of the credit, as he continues to muse about Canada becoming the 51st state and threaten new tariffs; just this week he announced plans to impose a 50 per cent tariff on copper. "He's actually keeping it top of mind. He's keeping the boycott going," said June Cotte, a professor of marketing at Western University's Ivey Business School in London. She added the media helps fuel the boycott by giving Trump airtime every time he takes pot shots at Canada. The travel boycott Rather than wane, the Canadian boycott of U.S. continues to grow. In May, the number of return trips among Canadians travelling to the U.S. dropped by 24 per cent for air travel and by a whopping 38 per cent for land travel. Cotte says another reason for the boycott's staying power is it's not a big challenge for many Canadians, because they can often find domestic replacements for American products like food, and they can travel to other countries or explore their own. However, boycotting U.S. travel is problematic for Ottawa resident Emily Olmstead, who has family in the U.S. Fortunately, her parents, Diane and Don, who live in Ohio, are happy to trek to Canada. "They're here visiting me, and not the other way around," said Olmstead, while browsing Maker House with her parents. Like many Canadians, Olmstead says she's shopping local as much as she can, and avoiding U.S. travel for political reasons. "I am pretty displeased with the turn in American politics and the status of the relationship between Canada and the United States," she said. "I think I've just got to do the best that I can to support Canada right now." Buy Canadian continues It's harder to pinpoint the success of the Buy Canadian movement, as no hard data exists. But an online survey conducted last month on behalf of Lightspeed, an e-commerce software provider, found that of the 1,000 Canadians polled from June 5 to 10, more than three-quarters said they support Canadian retailers removing U.S. goods from store shelves. On top of that, two-thirds said they're currently shopping for, or focusing on buying Canadian goods, according to the survey conducted by Censuswide. "It's a pretty high priority," said Aaron Clark of Ottawa who came to Maker House to buy a birthday present. "I'm very much a supporter of keeping things Canadian, supporting our economy." And rather than losing interest, Clark said he plans to ramp up his commitment. "I'd say it's going to become more of a habit, at least for the next few years." WATCH | Why some conferences are relocating to Canada: Conferences relocating to Canada over harsh new U.S. border measures 2 months ago Duration 1:58 As Canadian travel to the U.S. continues to drop, CBC News has found several professional conferences relocated to Canada to avoid harsh new U.S. border security measures. One sociologist describes being grilled by U.S. customs officers who searched his phone and wallet. A Canadian Federation of Independent Business (CFIB) survey also suggests the future is bright for the Canadian-made industry. Of the 2,190 businesses the CFIB polled in May, 40 per cent reported increased sales of Canadian made products since the start of the trade war. "It's been a very pleasant surprise to see it keep going," said Ryan Mallough, CFIB's vice-president of legislative affairs and communications. "And there doesn't seem to be, at least so far, much of an appetite to return to the U.S. products." The survey also found that many businesses noted a decline in sales of American goods. Will it last? Even if Trump continues to treat Canada as an adversary rather than an ally, the rationale for the boycott would logically expire when he completes his four-year term. "Most boycotts eventually start to peter out, so that will happen," said Cotte. But Mallough suggests that, for some Canadians, the U.S. boycott may become habit. He compares it to the recent postal strike where many small businesses switched to private carriers out of necessity, and chose not to return to Canada Post after the strike ended. "One of the things that the trade war has done is afforded a lot of us as consumers … the opportunity to look at Canadian products in a new light," said Mallough.
