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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Apr- 2022 -12 April
Asos swings to loss and predicts further £14m hit from Russia exit
Asos has revealed its pre-tax profits fell 115% year-on-year from £106.4m to a pre-tax loss of £15.8m in the six months to 28 February 2022 (H1 FY21). The company also said it is expected to take a further £14m hit following its decision to suspend sales in Russia, with revenue…
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11 April
Weird Fish freezes prices amid soaring inflation
UK lifestyle clothing brand Weird Fish has announced it is freezing prices for its spring/summer trading period in response to the rising cost of living pressures. The announcement comes as non-food retail inflation tipped its highest rate since 2011 in March at 1.5%, with consumers seeing their fifth consecutive month…
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11 April
Mothercare ups guidance but warns on impact of Russian closures
Mothercare has announced that EBITDA is now expected to be in the range of £11.5m to £12m for the year ended 26 March 2022, ahead of analysts’ expectations, despite warning of the effects of the closure of its business in Russia. The anticipated higher earnings are reportedly due to a…
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8 April
TM Lewin lender to rescue brand from administration
An investment vehicle owned by Petra Group has reportedly reached a deal to acquire TM Lewin after it collapsed into administration for the second time last month. According to Sky News, the lender to TM Lewin reached an agreement with Interpath Advisory to buy out the menswear brand, with sources…
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6 April
Farfetch agrees Neiman Marcus partnership amid £152m investment
Farfetch Limited and the Neiman Marcus Group (NMG) have announced a global strategic partnership which will see Farfetch make a minority common equity investment of up to $200m (£152.75m) into NMG. Through this agreement, NMG will utilise the Farfetch Platform Solutions (FPS) to re-platform the Bergdorf Goodman website and mobile…
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6 April
M&S becomes first major high street brand to join Dotte resale
M&S Kidswear has announced it has become the first major UK high street retailer to trial the fully circular kidswear peer-to-peer marketplace where parents can buy, sell, donate, and recycle outgrown kidswear – Dotte. Founded in 2020 by Louise Weiss and Samantha Valentine, Dotte seeks to address the “challenges parents…
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6 April
Skechers adds Cinedigm CCO to board of directors
Skechers has announced that Yolanda Macias has been appointed to its board of directors, bringing the total number of directors to eight. The Skechers board is now comprised of founder, chairman and CEO Robert Greenberg, president Michael Greenberg, chief operating officer David Weinberg, as well as independent members Katherine Blair,…
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6 April
Sosandar set to welcome ‘record’ results in FY22
Sosandar is set to achieve record sales in what it dubbed a “milestone year” for the retailer, as it expects to report revenue in excess of £29m, up 138% year-on-year. Meanwhile, EBITDA loss will be reduced by over 80% from a loss of £2.92m in FY21, following six consecutive EBITDA…
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Mar- 2022 -30 March
Lululemon surpasses £6bn in revenues
Athleisure brand Lululemon has reported a “strong” FY21 performance revealing its revenues surpassed $6bn (£4.5bn) for the first time. The performance was boosted by a 23% increase in net revenues during the fourth quarter. It also revealed that company operated store net revenue increased 70% for the year, with net…
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28 March
M&S to expand Jaeger store presence with 14 openings
Marks and Spencer (M&S) has announced that 14 Jaeger stores are set to open across the UK and Ireland, following “encouraging” early demand for the brand online and a successful UK store trial which has been running since October last year. Jaeger is an independent brand under the M&S ecosystem,…
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