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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May- 2021 -20 May
N Brown profits halve in FY21
N Brown, the owner of Simply Be and Jacamo, has seen its pre-tax profits almost halve in the full-year ended 27 February 2021, tumbling 49.4% to £30.1m as the group was hit by the pandemic. In the same period, revenue fell by 13% to £728.8m, and total product revenue was…
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20 May
Mytheresa Q3 sales jump 47.5% to £142m
MYT Netherlands Parent BV, the parent company of luxury fashion and designer firm Mytheresa, saw its net sales for Q3 FY21 rise 47.5% year-on-year to €164.8m (£142.2m). The group’s adjusted EBITDA for the period ended 31 March 2021 more than tripled to €11.1m (£9.58m), up from €3.1m (£2.67m) last year.…
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18 May
ABG approaches Adidas with £700m Reebok bid
Adidas has reportedly been approached by Authentic Brands Group with a $1bn (£704m) offer to buy global footwear brand Reebok. According to the New York Post, Jamie Salter’s brand management group partnered with Wolverine Worldwide, a footwear manufacturer, to table the bid. Having bought the group for $3.8bn (£2.7bn) in…
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18 May
Shoe Zone reports £2.6m loss as revenues fall 40%
Shoe retailer Shoe Zone has reported a loss before tax of £2.6m for the six month period ending 3 April. The retailer attributed the loss to “tighter cost controls and an increase in digital”. It comes as it also saw revenues for the period plunge over 40% to £40.4m. As…
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17 May
Mamas & Papas extends Next partnership
Mamas and Papas, a nursery and childrenswear retailer, has announced plans to extend its concession partnership with Next. The decision follows strong footfall therefore and sales performances since the easing of lockdown restrictions in April. In turn, the group has opened a 2,000 sq ft space in Next’s Brent Cross…
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14 May
Farfetch Q1 sales rise 46%
Luxury retailer Farfetch has reported a strong start to the year with Q1 revenues increasing 46% to $485m (£344.1m). It comes as it revealed Gross Merchandise Value (GMV) increased by $304.7m (£216.6m) from $610.9m (£434.2m) in the first quarter of 2020 to $915.6m (£650.8m) in the first quarter of 2021,…
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13 May
Burberry FY21 revenues decline 10%
Burberry saw its revenue for the 12 months to 27 March 2021 decline 10% year-on-year at CER to £2.34bn. The fashion house’s adjusted operating profit represented a similar fall, dropping 8% from £433m in FY20 to £396m in FY21. The group’s revenues suffered during the first half of the period,…
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11 May
Joules raises full-year guidance amid ‘encouraging’ trading
Joules has announced it has raised both its revenue and pre-tax profit guidance after being “encouraged” by recent momentum across its retail channels. In its latest update for the 11 months to 2 May 2021, the group said it has continued to deliver a “positive performance” across its retail channels…
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7 May
Joules secures ESG-linked financing arrangement
Clothing retailer Joules has announced an extension to its current funding arrangements, converting the facility to an ESG-linked financing arrangement. Placed through Barclays Bank, the scheme includes a £25m revolving credit facility and £9m term loan to September 2024. Under the terms of the arrangement, Joules’ interest rate loan margin…
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6 May
Next increases full-year profit guidance to £720m amid sales surge
Next has increased its pre-tax profits guidance for the full year to £720m from £700m after seeing a surge in sales. The retailer previously forecasted that in its 13 weeks to 1 May, sales would be down by 10%, however due to a 65% increase in online sales and Covid-19…
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