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 -6 May
Sports Direct opens £10m Birmingham flagship
Sports Direct is opening its latest flagship store in the heart of Birmingham with a 60,000 square feet concept space that has seen an investment of over £10m. Located on New Street, Sports Direct Birmingham is set across four floors and it will be the first flagship to house USC,…
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5 May
Zalando revenues dip despite rise in active customers
Zalando has revealed that its revenues for the period dipped 1.5% YOY to €2.2bn (£1.8bn) as it transitioned to a platform model, despite seeing its active customers rise 5% to 49 million. It also revealed that Gross Merchandise Volume (GMV) increased 1% to €3.2bn (£2.7bn) in the first quarter, which…
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5 May
Next Q1 sales surge 22% despite online hit
Next plc has reported that its full price sales surged 22% year-on-year for the 13 weeks to 30 April (Q1), and 21% compared to pre-Covid levels, which is in line with expectations. However, total online sales in the UK fell 11% compared to the same period last year, although this…
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4 May
Boohoo profits sink 94% to £7.8m
Boohoo has announced its profit before tax sunk 94% to £7.8m in 2022, compared to £124.7m in 2021, according to its final results for the year ended 28 February 2022. The group said this is due to “lower growth” than anticipated and a “significant” increase in logistics costs. The group…
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4 May
Joules CEO steps down as group warns of market challenges
Joules has announced that its CEO, Nick Jones, will step down from his role during the first half of the group’s next financial year following three years at the helm, as the group warned of subdued trading amid challenging market conditions. The group said that since joining the business in…
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Apr- 2022 -29 April
Victoria’s Secret and PINK Beauty launches on Amazon
Victoria’s Secret and Co. has launched its Victoria’s Secret Beauty and Pink Beauty products in Amazon’s store, with approximately 120 different products available and eligible for delivery with Prime. The assortment of products will also be available in the Victoria’s Secret storefront. Victoria’s Secret said the collaboration is the latest…
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27 April
Ted Baker receives ‘number of bids’ as sales process continues
The board of Ted Baker PLC has announced it has received a number of non-binding proposals from potentially interested parties. In the next step in the formal sale process, Ted Baker is inviting a “focused selection” of such parties to enter into a due diligence process. As such, the company…
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26 April
Primark to raise prices amid mounting inflationary pressures
Primark is implementing selective price increases across some of its autumn/winter stock amid inflationary pressures as the retailer’s owner, Associated British Foods plc (ABF), said the company is unable to offset all of the inflationary pressures with cost savings. In its latest trading update for the 24 weeks ended 5…
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25 April
JD Sports tipped as potential Missguided suitor
JD Sports has reportedly been tipped as a potential suitor to acquire online retailer Missguided after it appointed advisors to seek a buyer last week. According to This is Money, while muted to be at “a very early stage”, bosses at the sportswear retailer are said to be discussing a…
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22 April
Gap CEO to lead Old Navy brand as Nancy Green departs
Gap Inc. has announced Old Navy president and CEO Nancy Green is stepping down from her role with immediate effect. It revealed that while an external search is underway, Gap chief executive officer Sonia Syngal will work closely with the Old Navy team to lead through this transition until a…
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