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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Jun- 2021 -17 June
Maternity brand Seraphine considering float on LSE
Maternity brand Seraphine has confirmed it is considering plans to float on the London Stock Exchange’s main market for listed securities. The company, which was founded in 2002, has submitted an application via its holding company, Kensington Topco Limited, for approval to the FCA. The group, which will be known…
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17 June
Dr Martens profits drop 30% amid IPO related costs
Footwear retailer, Dr Martens has revealed that its profit before tax dropped 30% to £70.9m from £101m for the year ended 31 March 2021 which was attributed to the £80.5m cost related to its London Stock Exchange IPO. Profit was also impacted by the group’s repayment of £1.3m in furlough…
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15 June
H&M sales soar 75% in Q2
H&M has reported a quarterly turnover rise from the year before as Covid-19 restrictions continue to ease, despite overall revenue remaining below 2019 levels. In the second quarter of 2021, the retail group reported a net sales increase of 75% in local currencies compared with the same period last year.…
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15 June
Boohoo see Q2 revenues surge 32% to £486m
Boohoo has reported a 32% surge in group revenues for the three months to 31 May 2021 from £367.8m to £486.1m which was spurred on by retailers turning to online shopping during the pandemic. UK revenue contributed heavily to the overall sales growth, which saw a 50% increase from £183m…
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14 June
Ted Baker losses widen to £60m
Ted Baker has announced that group revenue plummeted 44.2% to £352m in the year ended 30 January 2021, as the group was impacted by ongoing Covid restrictions. The fashion group’s losses widened to £59.2m, down from a profit of £4.8m the prior year, primarily driven by lower revenue levels but…
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10 June
N Brown Group appoints non-executive director
N Brown Group has confirmed the appointment of Dominic Platt as an independent non-executive director with immediate effect. Platt will chair the group’s audit and risk committee, a role that Vicky Mitchell has assumed in an interim capacity since 31 March 2021. He is currently the CFO of BGL Group,…
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10 June
Ted Baker delays FY results amid further Covid-19 disruption
Fashion retailer Ted Baker has delayed the release of its full-year results for a third time due to the impact of Covid-19 on the audit process. In a statement, the retailer said it now expects its results to be released on 14 June and expects them to be “in line…
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9 June
Gap to step away from 19 UK sites
Gap is set to close 19 of its stores across the UK and Ireland as their leases expire on 31 July 2021. The US clothing and accessories retailer confirmed that is stepping away from the sites as part of a strategic review of its operations, which commenced last Autumn. While…
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9 June
Inditex sees Q1 sales rise 50% to over £4bn
Inditex, the owner of Zara, has announced that its sales soared by 50% to €4.9bn (£4.2bn) in the first quarter of 2021, while online sales rocketed 67% in the same period. Net profit totalled €421m (£362m) in the quarter, up from a loss of €409m (£352m) reported in the first…
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4 June
CVC acquires co-control of BAPE
Private equity firm CVC Capital Partners has acquired co-control of the Japanese fashion brand, A Bathing Ape (BAPE), for an undisclosed sum. The investment follows BAPE’s privatisation of IT Limited by Brooklyn Investment, which is owned by CVC and the founder group of IT, on 30 April 2021. Through the…
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