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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Aug- 2021 -9 August
Levi Strauss acquires Beyond Yoga
Levi Strauss and Co (Levi’s) has announced the acquisition of premium athletic and lifestyle apparel brand Beyond Yoga for an undisclosed cash consideration. Following the expected close of the deal in Q4 FY21, Beyond Yoga will be brought to more consumers via brick and mortar retail, gender and category growth,…
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6 August
Matalan to create 200 jobs as part of Kickstart scheme
Matalan has announced that it will be creating over 200 placements across its business to assist young people in gaining long-term employment. The retailer will be taking part in the government’s £2bn Kickstart scheme, designed to support employment for 16 to 24-year olds by offering them industry qualifications and work…
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5 August
Adidas raises FY guidance amid 51% Q2 revenue growth
Adidas has reported a 51% year-on-year growth to group revenues of €5.08bn (£4.33bn) in the second quarter of FY21. The group also saw a return to a net income of over €387m (£330m), up from Q2 FY20’s €243m (£207m) net losses. In turn, the multinational company has increased its top…
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4 August
New Look posts Q1 profits of £15m
New Look has swung to a £15m adjusted EBITDA profit in the first quarter of FY22, compared with losses of £16m in Q1 FY21. The group reported that total revenue increased 181.7% year-on-year to £194.4m during the 13 week period ended 26 June 2021. However, the fashion retailer also announced…
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3 August
Wolverine World Wide acquires Sweaty Betty for £295m
Wolverine World Wide has announced that it has acquired UK retailer Sweaty Betty in an all-cash transaction valued at approximately $410m (£295m). Founded in 1998 in Notting Hill, Sweaty Betty offers a wide array of tops, bottoms, swimwear, outerwear, and accessories. Julia Straus, CEO, Sweaty Betty, said: “From the moment…
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3 August
VF Corp H1 revenues soar 104% to $2.2bn
VF Corporation, the apparel and footwear group, saw revenues increase 104% year-on-year to $2.2bn (£1.58bn) in H1 FY22. The owner of Vans, The North Face, and Dickies also reported a swing to $324m (£232m) net income for the period, up from net losses of $286m (£205m) in FY21. In turn,…
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3 August
Joules returns to profit in FY21
Joules has announced that it has returned to profit in its latest full-year results, rising to a pre-tax profit of £6.1m, up from a loss of £3.9m the prior year. It comes as its group revenue saw an uptick of 4.3% to £199m in the full-year ended 30 May 2021,…
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3 August
Capri Holdings sees Q1 revenues reach $1.25bn
Multinational fashion company Capri Holdings has reported a 178% year-on-year spike in total group revenues to $1.25bn (£898m) for Q1 FY22. The owner of Jimmy Choo, Versace, and Michael Kors has in turn raised its full-year adjusted earnings per share forecast to $4.50 (£3.23). Adjusted profit for the quarter ended…
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Jul- 2021 -30 July
Dr Martens Q1 revenues soar 52%
Dr Martens has reported revenue growth of 52% year-on-year to £147.3m in the three months ended 30 June 2021. Although comparisons on a yearly basis are skewed by FY21’s Covid-19 impact, the Q1 FY22 figure represented a 31% jump when compared to the same period in FY20. While stores in…
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27 July
LK Bennet launches rental clothing service
LK Bennett has announced a new rental clothing service for a flat monthly fee of £79, in which members can receive two items in their first box and can make unlimited box exchanges with free shipping both ways. Each month, the customer will be able to rent two RTW products…
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