Studio Retail Group news and archive

Frasers Group reportedly set to cut jobs at Studio Retail warehouse

Fashion and retail giant Frasers Group is said to have launched a redundancy consultation with warehouse staff at Studio Retail’s Accrington location in Lancashire. A total of 164 warehouse employees are believed to be impacted by the move, which is being carried out in light of a lack of sales, according to Drapers. Those affected derive from...

Business

Studio Retail back in black following Frasers takeover

Almost two years on from its takeover by Frasers Group and e-commerce platform Studio Retail has returned to profit. The company, which has since changed its name to Frasers Group Financial Services Limited (FGFS), reported its full year results for the period ended April 30, 2023, when it saw its profits hit 12.5 million pounds, a significant...

Business

Job losses feared ahead of Frasers’ potential Studio Retail merger

Employees of Studio Retail are understood to be anticipating job losses ahead of a potential merger between the company and two others owned by Mike Ashley’s Frasers Group. It is believed concerns had been sparked by a letter from Paul Kendrick, the chief executive of Studio Retail, which Frasers had rescued from administration in a one pound...

Business

Studio Retail to grow team in first expansion since Frasers Group takeover

Studio Retail is said to be expanding its team as it looks towards a period of transformation under its new owner, Frasers Group. The Lancashire-headquartered company is reportedly creating 30 news jobs at its Clayton-le-Moors location, where it houses administrative and operational functions. The move is the first major step taken by Mike...

Business

Studio Retail CEO steps down

The chief executive officer of Studio Retail has stepped down nearly one year on from taking on the role. According to documents filed with Companies House, Paul Kendrick has left the position after initially taking on the role permanently in March 2021. Kendrick first joined the company in May 2016 as commercial and deputy managing director,...

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Studio Retail Group shares tumble on profit warning

Studio Retail Group saw its shares plunge Monday morning following a profit warning by the British value retailer. The group said it expects its adjusted pre-tax profit for the full year to come in at between 28 million pounds and 30 million pounds, the second time it has slashed its outlook in just a few months. In its half-year results...

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Studio Retail Group H1 profits widen, but warns of ‘challenging’ Q3 trading conditions

Studio Retail Group has reported an increase in sales and profitability in the first half of the year, but said it faces “challenging trading conditions” in the current quarter. In the 26 weeks to September 24, the group reported revenue of 239.6 million pounds, up 3.2 percent from the year before, and up 32 percent compared to two years ago...

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Studio Retail Group reports surging full-year profit and revenue

British retailer Studio Retail Group has reported soaring full-year revenue and profit as it benefited from the accelerated consumer shift to online channels during the pandemic. For the year ending March 26, adjusted profit from continuing operations soared by 79 percent to 27.3 million pounds, while revenue increased by 33 percent to 578.6...

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Studio Retail Group names new CEO

British value retailer Studio Retail Group has appointed Paul Kendrick as its new CEO. Kendrick joined the group in May 2016 as commercial and deputy managing director before being promoted to managing director in April 2017. In December 2019, he was appointed to the company’s board. Studio credited Kendrick with having “played a key role in...

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Studio Retail up for sale as profits soar

Studio Retail Group has launched a strategic review and formal sale process amid soaring half-year profits. The British value retailer’s adjusted profit before tax jumped 52 percent to 17.7 million pounds for the 26 weeks to 25 September as shoppers flocked online during lockdowns. Group revenue increased 17.2 percent to 268 million pounds in...

Business

Studio Retail Group half-year product sales up 39 percent

British retailer Studio Retail Group, formerly called Findel, has reported a 39 percent increase in product sales in the first half of the year. The group said its core business, Studio, has seen “strong retail trading performance in the early weeks of its new Autumn/Winter season”, with its kidswear, gifting and early Christmas ranges...