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.
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May- 2022 -31 May
Missguided collapses into administration, 140 jobs at risk
Online fashion retailer, Missguided, has fallen into administration after failing to secure a rescue bid for the company. According to the Guardian, the collapse puts approximately 140 jobs at risk, with over 80 employees having reportedly been made redundant immediately. Teneo Financial Advisory revealed Dan Smith, Daniel Butters and Benji…
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27 May
In The Style raises £500k for Bowelbabe Fund
In The Style has raised half a million pounds in aid of The Bowelbabe Fund for Cancer Research UK. The group said the funds were raised through the sale of the Dame Deborah James ‘Rebellious Hope’ t-shirt, the first item to be unveiled from the Dame Deborah James collection, as…
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27 May
Ted Baker losses narrow as sales boosted by return of social events
Ted Baker has seen its losses narrow to £44.1m for the 52 weeks ended 29 January 2022, up from a loss of £107.7m the previous year. The improved performance comes as group revenues increased 20% to £428.2m, up from £355.3m, as the retailer said sales were “supported by a steady…
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26 May
John Lewis enters childrenswear rental market
John Lewis and Partners has announced it is launching a trial with thelittleloop to give parents the choice to rent their children’s clothing. An initial 51 items of clothing for children and babies up to age 12 are available from today (26 May). Customers can swap their rented clothing at…
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24 May
Abercrombie & Fitch lowers forecast amid Q1 loss
Abercrombie and Fitch has lowered its forecast for 2022 with expectations for net sales to be flat to up 2% from $3.7bn (£2.95bn) in 2021, down from previous expectations of up 2%-4%, due to the impact from foreign currency and an assumed inflationary impact on consumer demand. Net sales are…
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24 May
Gymshark founder climbs Sunday Times Rich List as profits hit £45m
Gymshark has reported pre-tax profits of £45.4m in the financial year ended 31 July 2022, with profits in the year increasing year-on-year from £30.4m. The retailer also achieved a 54% surge in sales to £401.9m, compared to £260.7m in 2020. Headed by 29-year old Ben Francis, the e-commerce fashion retailer…
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24 May
H&M unveils new Braehead store
H&M has announced the opening of its new store at Braehead shopping centre, a retail and leisure destination, under the ownership of property company SGS and assets managed by Global Mutual Properties. H&M has relocated from its former unit to a new ground floor space, spanning 17,000 square feet, on…
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24 May
Boohoo agrees settlement for US class action
Boohoo has announced it has agreed a settlement “without admission of liability” in relation to the class action settlement brought forward against it in the US. The claim, brought forward in California, argued that Boohoo had run promotions claiming to give discounts on items that had already had their prices…
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23 May
Ted Baker selects preferred bidder as Sycamore backs out
Ted Baker has announced it has selected a preferred counterparty to buy the business as US Private equity firm, Sycamore, has officially backed out of acquiring the fashion retailer. The company said it is moving forward into a process of confirmatory due diligence, which is likely to take several weeks. …
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18 May
N Brown profits surge 46% to £43m
N Brown, the owner of high street brands Jacamo and Simply Be has revealed its profit before tax increased 46.6% to £43.1m for the full-year period ended 28 February 2022. The retailer posted the profit increase despite seeing revenues dip 1.8% reflecting a 0.6% reduction in product revenue and a…
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