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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Mar- 2022 -28 March
Ted Baker rejects Sycamore takeover proposals
The board of Ted Baker PLC has confirmed it has rejected two unsolicited non-binding proposals from Sycamore Partners Management L.P., following press speculation. Ted Baker said Sycamore “significantly undervalued” the company and “failed” to compensate shareholders for the “significant upside that can be delivered by Ted Baker as a listed…
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24 March
Next hit with £85m sales loss amid Ukraine and Russia closures
Next has revealed it has lowered its sales guidance for the financial year 2022/23 to £85m, down 2% following “anticipated losses overseas” amid the closure of the company’s websites in Ukraine and Russia. The company has also lowered its profit guidance by 1.2% to £10m following the loss of £18m…
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23 March
H&M enters the Cambodian market
H&M has marked its entrance into the Cambodian market with the opening of its first store in the country. The new store is located in the Aoen Mall which is based in Phnom Penh, the capital of Cambodia. The new Phnom Penh store includes departments for women, men, kids and…
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23 March
Threads Styling secures $12m to further expand e-commerce offering
Threads Styling, the luxury chat-based shopping platform, has announced it has raised a $12m (£9m) fundraising round led by Highland Europe and C Ventures, with participation from BVYP and TriplePoint Capital. It said the funding will enable Threads to continue to expand its current product offering, allowing it to “service…
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23 March
Nike Q3 revenues hit $10.9bn as traffic returns
Nike, Inc. has reported its revenues rose 5% year-on-year from $10.35bn (£7.83bn) to $10.9bn (£8.24bn) in the third quarter (Q3) of FY22, following the “steady normalisation” of traffic in owned physical retail, with Nike owned stores up 14%. Revenues for the Nike Brand were up 8% year-on-year to $10.3bn (£7.79bn),…
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18 March
H&M launches sustainable kidswear collection
H&M has launched its latest kidswear collection using more sustainable print techniques which have lower environmental impact. The collection is in collaboration with a Jakarta-based artist, Martcellia Liunic, and focuses on illustrations of creatures, plants, flowers, and shapes, the colours and prints. These have been printed onto a range of…
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18 March
Sycamore Partners eyes Ted Baker takeover bid
American private equity firm Sycamore Partners is reportedly considering a takeover bid for Ted Baker, according to Sky News. The outlet reports that Sycamore has appointed advisers Numis to help it evaluate a potential offer, with one source cited claiming it was considering approaching the board of the british fashion…
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18 March
T.M. Lewin calls in administrators for second time in two years
T.M. Lewin has collapsed into administration for the second time in two years as trading continued to be impacted by the effects of the pandemic. The menswear retailer confirmed that Will Wright and Chris Pole from Interpath Advisory have now been appointed as the latest joint administrators to the group. …
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17 March
Abercrombie & Fitch unveils new activewear sub-brand YPB
Abercrombie and Fitch, a division of Abercrombie and Fitch Co., has announced the launch of a new activewear sub-brand called YPB. YPB stands for “Your Personal Best” and reportedly aims to empower customers to perform to their highest potential. The sub-brand features a collection of “fashion-forward yet functional” activewear and…
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17 March
Prada FY21 revenues spike 41% to €3.36bn
Prada S.p.A has reported its revenues increased 41% year-on-year to €3.36bn (£2.82bn) in the full year ending 31 December 2021, also up 8% from pre-Covid levels. The group’s net income hit €294m (£246.4m) and EBIT grew to €489m (£409.83m). Prada also revealed its online sales surged 61% year-on-year, five times…
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