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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Jul- 2021 -2 July
Weird Fish brings forward sustainability targets
UK lifestyle clothing brand Weird Fish has brought forward its ambitious sustainability targets of having 80% of its products using eco-friendly alternatives by 2023 to 2022, as more customers embrace its introduction of eco-friendly materials. Following the launch of its ‘The Only Way Is Ethics’ sustainability policy in 2019, in…
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2 July
Ralph and Russo bought out of administration
Ralph and Russo has been bought out of administration by Retail Ecommerce Ventures (REV), who made an undisclosed bid amount to acquire the business and assets of the UK-based luxury brand. Paul Appleton of Begbies Traynor Group and Andrew Andronikou of Quantuma Advisory, who were acting as joint administrators, conducted…
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1 July
JD Sports raises full-year outlook to £550m
JD Sports has increased its full-year profit outlook to “no less than” £550m, compared to £324m the previous year, after a period of solid trading since shops reopened after lockdown. In a trading update, JD Sports said business in the UK has been “particularly encouraging” following the retailer’s trading boost…
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1 July
H&M Q2 profits reaches £303m
H&M has reported pre-tax profits of SEK 3.59bn (£303m) from a previous year’s loss of SEK 6.4bn (£547m) for its second quarter ended 31 May 2021. The group’s net sales in local currencies increased by 75% to SEK 46.5bn (£2.9bn) from SEK 28.6bn (£2.4bn) in the corresponding period last year.…
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1 July
Gap to close all UK and Ireland stores
Gap has announced plans to close all 81 of its UK and Ireland stores following a strategic review of its European business. The move comes as a part of the group’s 2023 power plan, which commenced with a strategic review of Gap’s European operations last year. While the closures will…
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Jun- 2021 -28 June
Allbirds eyes NYSE float
Woolen trainer retailer Allbirds has reportedly tapped a number of banks for an initial public offering (IPO) on the New York Stock Exchange. According to Bloomberg, the company has already contacted Morgan Stanley, JPMorgan Chase, and Bank of America Corp for the float. Seeking to go public as soon as…
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28 June
Burberry CEO to step down
Burberry has announced that Marco Gobbetti will step down as CEO and leave the company after nearly five years at the helm. The board will now begin the search for his successor and anticipate that Gobbetti will remain with the retailer until the end of the calendar year. In that…
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28 June
Matalan FY21 losses widen to £118m
Missouri Topco, the owner of Matalan, saw its losses for the 52 weeks ended 27 February 2021 extend to £118.6m, up from £16.7m the previous year. During the period, the fashion and homeware retailer swung to an operating loss of £39.3m, down from £69.3m of operating profits seen in FY20.…
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25 June
Nike Q4 revenues surge 96% to £8.85bn
Nike saw its revenues spike 96% year-on-year to $12.3bn (£8.85bn) for the three months ended 31 May 2021. The group also saw a return to net profits of $1.51bn (£1.09bn) in the quarter, up from its $780m (£561m) net losses seen in Q4 FY20. The surge in Q4 revenues contributed…
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25 June
Canada Goose to stop using fur
Canada Goose has announced that it will stop using fur in its products by the end of the year and will aim to cease manufacturing with fur by 2022. The news falls in line with the retailer’s sustainability commitments, having already announced its aim to achieve net-zero carbon emissions and…
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