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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Sep- 2021 -30 September
M&S resets its sustainability programme
Marks and Spencer has reset its Plan A sustainability programme, with the company now focusing on “becoming a net zero Scope 3 business across its entire supply chain and products by 2040”. The retailer has set out a roadmap to net zero using “science-based targets aligned to the UN ambition…
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29 September
Quiz sees FY21 losses widen to £9.6m
Fashion retailer Quiz has seen its losses widen to £9.6m for the year ending 31 March 2021 compared with a previous year’s loss of £3.1m. Revenue also dropped by 66.4% to £39.7m from £118m in 2020 and reflects the impact of the prolonged lockdowns and curtailment of social occasions through…
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27 September
Seasalt exploring sale following strong summer
Fashion brand Seasalt is reportedly considering a sale following a period of strong sales during the summer boosted by the UK’s staycation boom. According to The Telegraph, the retailer is in early talks about bringing in new investors, with a potential deal leading to an exit for shareholders BGF and…
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24 September
Very Group snaps up former Fenwick CEO as newest managing director
The Very Group has announced that it has appointed Robbie Feather, the former CEO of Fenwick, as its newest managing director with effect November 2021. Feather will succeed Sam Perkins, who will step down at the end of the year after seven years with the operator of very.co.uk. Prior to…
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24 September
G-III Apparel Group to acquire luxury fashion brand Sonia Rykiel
The G-III Apparel Group has announced it has agreed a deal to acquire the European luxury fashion brand Sonia Rykel. The group, which features a portfolio of more than 30 licensed and proprietary brands including DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris, said it plans to…
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24 September
Nike Q1 revenues climb 16% to £8.9bn
Nike has announced that group revenues increased 16% year-on-year to $12.2bn (£8.9bn) in Q1 FY22. The global retailer also revealed that net income climbed 23% to $1.87bn (£1.36bn) in the three-month period ended 31 August 2021, compared with $1.52bn (£1.11bn) the previous year. Revenues at the group’s EMEA and North…
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24 September
In the Style warns of profit hit despite trading boost
In the Style has warned that ongoing supply chain issues could impact its profitability in the near-to-medium-term thanks to ongoing supply chain disruptions, despite having seen a trading boost in recent months. The fashion retailer said it has “not been immune” to the impact of the ongoing freight and supply…
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23 September
French Connection receives takeover offer of £29m
French Connection has announced that it has received a buy-out offer of £29m by its second largest shareholders Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited. The offer comes as its share price increased by 15% to 26.9p, giving it a market value of roughly £26m. The company,…
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22 September
Superdry partners with Oxfam on sustainability drive
Superdry has announced that it will be partnering with Oxfam to offer ‘Give Back’ boxes in stores to donate pre-loved clothes as part of its sustainability initiatives. The scheme will be initially piloted in 22 UK stores, plus access for Superdry staff at HQ. Once the clothes have been donated,…
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22 September
Vestiaire Collective completes £154m funding round
Vestiaire Collective, the global pre-owned fashion platform, has announced the completion of a $210m (£154m) funding round. Led by Softbank Vision Fund 2 and Generation Investment Management, the investment was also backed by existing shareholders Bpifrance, Condé Nast, Eurazeo, and funds managed by Fidelity International and Korelya Capital. Following the…
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