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 -16 May
Next faces investor backlash over CEO bonus
Next plc is facing a potential backlash from the Institutional Voting Information Service (IVIS) as the retailer’s chief executive, Simon Wolfson, has received the highest pay since 2015, while benefiting from government support. According to the Guardian, the Institutional Voting Information Service (IVIS), which is part of the Investment Association…
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13 May
Adidas ads featuring nudity banned over ‘widespread offence’
The Advertising Standards Agency (ASA) has banned adverts from a recent Adidas campaign after ruling that the images featured were “likely to cause widespread offence”. The campaign for sports bras included a tweet on Adidas’ twitter account that showed the bare breasts of 20 women of various skin colours, shapes…
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13 May
Inditex and Infinited Fiber Company announce £100m partnership
Inditex and Infinited Fiber Company have announced a new partnership with the goal of advancing new and innovative technologies towards textile-to-textile circular loop. At the core of this partnership is Inditex´s three-year commitment to buy 30% of Infinited Fiber Company’s annual future production volume of Infinna, a textile fibre that…
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12 May
Hotter Shoes boosts Unbound Group’s Q1
The Unbound Group, which owns a stable of brands aimed at the 55+ demographic, has hailed a strong performance from its footwear brand Hotter Shoes for its Q1 period ending 4 February. The retail group said Hotter delivered a double-digit increase in revenue against the comparator period last year as…
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12 May
Superdry revenues bounce back as physical trading returns
Superdry has announced its FY22 revenues surged 59.8% year-on-year to £224.5m as Covid-related store closures and restrictions were lifted in the company’s key markets. However, this is down 21.8% compared to pre-Covid levels as footfall still remains “significantly” below pre-Covid levels. Overall, group revenue increased 8% to £600m, although this…
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12 May
JD Sports warns of headwinds despite sales hike
JD Sports has said it remains “conscious” of headwinds in the retail sector, despite reporting higher sales in recent weeks. Total sales in its like-for-like businesses rose by 5% against last year in the first 14 weeks ended 7 May 2022. The retailer said this was a “positive reflection of…
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11 May
Ikks Paris makes UK debut
French fashion and lifestyle brand, IKKS Paris, has marked its UK debut with the company’s first flagship in the country set to open on Carnaby Street this month. The 2,610 square foot store spans two floors with a full collection of womenswear, menswear, and kidswear. It comprises a lounge area…
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10 May
Adidas Q1 profits drop almost 40%
Adidas has reported its operating profits dropped 38% year-on-year from €704m (£602.71m) to €437m (£374.13m) in the first quarter ending 31 March 2022 (Q1), due to its operating margin dropping 5% to 8.2%. Income-before-tax also dropped 38.5% to €411m (£351.87m) in Q1, compared to €669m (£572.75m) in the same period…
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10 May
Schuh opens distribution centre in Ireland
Schuh has announced the opening of a 49,000 square foot distribution centre in Ireland. The new facility at northwest business park, Dublin, has led to the creation of 25 additional job roles. The Republic of Ireland distribution centre will serve Irish and European customers, further increasing schuh’s omnichannel capabilities, ensuring…
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10 May
Cost of living crisis begins to hamper consumer spending
Spending on essential items dropped to 18.1% in April, compared to 17.4% in March, as inflation and rising living costs are starting to impact the retail sector. Research from Barclaycard found this was largely due to spending on fuel falling from a record 26.1% increase last month to 23% in…
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