Clothing & Shoes
The latest news, updates and analysis on the clothing and shoes segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
-
Jul- 2022 -19 July
H&M Group to exit Russia
The H&M Group has announced its decision to begin winding down its business in Russia over the coming months, following current operational challenges and an “unpredictable” future. The company will temporarily reopen physical stores for a limited period of time to sell remaining inventory in Russia. The entire wind-down is…
Read More » -
15 July
Uniqlo owner raises outlook amid profit and sales surge
Uniqlo owner Fast Retailing has raised its full-year outlook after posting record profits for the third quarter of the year. In the three months to 31 May, the retailer recorded operating profits of 81.8bn yen (£498m), up 36.5% YOY. The strong performance comes as revenues surged 10.3% to 546.1bn yen…
Read More » -
14 July
JD to expand outdoor business with a dozen new openings
JD Outdoors will expand its footprint with the opening of over a dozen new stores by the end of the summer, amid a spike in demand for outdoor products as Britain spends more time outside in the UK and Europe. Adding nearly half a million square feet of retail space…
Read More » -
14 July
Dr Martens trading remains steady in Q1
Dr Martens has told investors its trading since the start of the year is in line with the guidance set out at its FY trading announcement for both the half and full year, after a period of strong trading in its first quarter. In its latest update, the boots retailer…
Read More » -
13 July
Boohoo to start charging £1.99 returns fee to offset shipping costs
Online fashion retailer Boohoo has become the latest retailer to start charging shoppers for returns as it looks to offset increased shipping costs. First reported by Retail Week, the move, which came into effect from 4 July, will see customers charged £1.99 to return goods with the sum taken out…
Read More » -
12 July
Matchesfashion appoints new CEO
Online luxury retailer, Matchesfashion, has announced the appointment of Nick Beighton as the company’s new chief executive officer. Beighton will take over from Paolo De Cesare who will hand over responsibilities this month, with Beighton taking his role at the start of August. Beighton joined Asos Plc in 2009 acting…
Read More » -
12 July
Sosandar revenues jumps 142% as losses narrow in FY22
Sosandar has seen its revenues rocket 142% to £29.5m in the year ended 31 march, 2022, in what it dubbed a “milestone year” for the group. This included three consecutive months of “record” revenue in September, October and November 2021, as the group welcomed an “exceptionally strong” financial performance, exceeding…
Read More » -
11 July
Independent retailer Scamp & Dude opens flagship store
Scamp and Dude, an independent womenswear retailer, has opened its flagship store in Marlow High Street. The 1,569 sq ft store will be an immersive retail space to showcase the brands growing collection of “stylish and responsible womenswear”, and also a space to celebrate the power of community, from ongoing…
Read More » -
11 July
Joules appoints KPMG to help boost profitability
Outdoor fashion and lifestyle retailer Joules has appointed ‘Big Four’ accounting firm KPMG to improve its cash position in the face of turbulent economic conditions due to the cost of living crisis. According to reports from The Sunday Times, Joules has called in advisors from KPMG’s debt advisory practice to…
Read More » -
11 July
Levi Strauss & CO revenues jump 15% to £1.25bn
Levi Strauss and Co has revealed its net revenues climbed 15% to $1.5bn (£1.25bn) in its second quarter after global direct-to-consumer sales rose by 16%. In the three month period ended 26 May, the group also reported strong growth in its company-operated store sales which increased by 23%. The second…
Read More »
