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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Jan- 2022 -20 January
Primark sales spike 36% to £2.67bn
Primark owner, Associated British Food (ABF), has announced the fashion retailer’s revenues increased by 36% to £2.67bn in the 16 weeks ending 8 January 2022, compared to £2.03bn in the 16 weeks ending 2 January 2021. Total Primark sales this period were 5% lower than pre-Covid levels, and like-for-like sales…
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20 January
Forever 21 announces new CEO
Forever 21 has announced Winnie Park as its new chief executive officer, effective immediately. Park joins Forever 21 from Paper Source, where she served as CEO for the past six years. During this time, she led the successful sale of the brand to an affiliate of Barnes and Noble. Park…
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19 January
Burberry sees recovery with profits rising to £723m
Burberry Group plc has increased its operating profit expectations to grow by 35%, following a 5% increase in revenue to £723m in the 13 weeks ending 25 December 2021 (Q3 FY22), compared to £688m for the same period in 2020 (FY21). Full-price sales surged in the third quarter, increasing 26%…
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18 January
ASOS set to boost UK economy by £3.8bn
Asos’ UK GDP contribution will increase by £2bn to £3.8bn in the next three to four years, with plans to reach £7bn turnover which will reportedly “further boost” the company’s impact in the UK, according to its first Economic Impact report. According to the research, conducted by Oxford Economics, Asos’…
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17 January
Burberry signs £300m sustainability linked loan
Burberry has refinanced its Revolving Credit Facility (RCF) to a £300m sustainability linked loan, coordinated by Lloyds Bank. The luxury brand said the facility is linked to the achievement of key ESG targets as part of the company’s ambition to become Climate Positive by 2040. This includes accelerating emissions reductions…
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17 January
Matalan revenues reach £777.9m
Matalan has reported its total revenues increased 19% to £291.4m for the 13 weeks ending 27 November 2021 (Q3), compared to £244.8m in the same period in 2021, meaning its total revenue has reached £777.9m from the previous total of £578.1m. The company’s operating profits also increased by 370% from…
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13 January
Frasers Group to expand FLANNELS with Ireland openings
Frasers Group has announced that three new Flannels stores are set to open across the Republic of Ireland, marking the first flagship to open outside of the UK. The store openings will take place in Dublin, Cork and Blanchardstown, with the Dublin site set to be the next flagship in…
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13 January
M&S raises profit forecast to £500m
The Marks and Spencer Group (M&S) has raised its full year pre-tax profits forecast to £500m, following an 18.6% year-on-year rise in total UK sales for the 13 Weeks ending 1 January 2022. The group’s clothing and home sales surged 37.7% and food sales increased by 10%, with sales excluding…
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13 January
Asos to move to main stock market amid sales boost
Asos has announced its intention to move to London Stock Exchange’s Main Market at the end of February 2022 after recording “robust” sales for the four months ended 31 December 2021. During the period, revenue grew 5% to £1.4bn, up from £1.36bn the previous year. As a result, the retailer…
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12 January
JD Sports raises profit forecast to £875m
JD Sports Fashion Plc has raised its pre-tax profits forecast to an average £875m for the full year to 29 January 2022, compared to the previous expectation of £810m, due to “sustained” consumer demand through the second half of the year. Additionally, total like-for-like revenues were more than 10% ahead…
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