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.
-
May- 2022 -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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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. …
Read More » -
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…
Read More » -
18 May
Burberry lowers FY23 forecast despite record revenues
Burberry has lowered its FY23 forecast as it expects a currency tailwind of £159m on revenues and £92m on adjusted operating profit, despite hailing record revenues in FY22. The group announced revenues surged 21% year-on-year from £2.34bn to £2.82bn for the 53 weeks ending 2 April 2022, against a backdrop…
Read More » -
17 May
JD Williams launches sustainable clothing range
JD Williams, a strategic brand within N Brown Group plc, has announced the launch of its sustainable, own-brand clothing range, Anise. The women’s clothing collection has been designed in-house, and it has been created to enable JD Williams customers to add more sustainable clothing options to their wardrobes, without compromising…
Read More » -
16 May
Woolwich Shoe Zone to reopen after refit
Shoe Zone is set to reopen its Woolwich store on 27 May after it closed for a month to undergo a modern refit to improve customers’ shopping experience. Located on the partially pedestrianised Powis Street, the refitted store will stock brands such as Lotus, Heavenly Feet, Jana Softline, S Oliver…
Read More »
