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 -6 May
Zalando raises FY guidance amid strong Q1 performance
Zalando has upgraded its full-year guidance after delivering its “strongest growth ever” since going public in 2014. It comes as it reported Q1 revenues of €2.2bn (£1.9bn) and profits of €93.3m (£80.7m), a YOY increase of 46.8% and 4.2% respectively. The company now expects Gross Merchandise Volume (GMV) to grow…
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6 May
Superdry revenue slumps 21% in full-year results
Superdry saw revenue fall 21% to £556.6m in the full-year ended 24 April 2021, despite witnessing a slight growth of 0.8% in its final quarter as restrictions began to ease across the UK. While store revenue was down by 50.9% to £140.9 amid ongoing store closures in the period, this…
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5 May
Boohoo profits soar 35% in full-year results
Boohoo has reported that its pre-tax profit soared by 35% to £124.7m for the year ended 28 February 2021, up from £92.2m the prior year. In the same period, revenue climbed 41% to £1.7bn, up from £1.2bn the previous year, which Boohoo attributed to the growth of its longer established…
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5 May
Kick Game launches first store outside of London
Leading UK sneaker and streetwear specialist, Kick Game, has opened its first store outside of London, with a new site in the Birmingham Bullring and Grand Central. To celebrate the brand’s third store opening in 12 months, Kick Game has partnered with British rapper and songwriter Mist who launched the…
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Apr- 2021 -30 April
Gym+Coffee welcomes One Direction backer
Irish-based athleisure brand Gym+Coffee has announced that One Direction’s Niall Horan has become an investor in the group. As a shareholder, Horan aims to support the business while raising the profile of the brand internationally. Founded in 2017, Gym+Coffee expanded its store portfolio in 2020 with the opening of a…
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29 April
Asos calls for new law to strengthen Modern Slavery Act
Asos has called for the implementation of a new mandatory human rights due diligence legislation in the UK in order to strengthen the 2015 Modern Slavery Act. The legislation, which is currently being developed by the European Commission for the EU, would help ensure that UK companies take steps to…
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29 April
French Connection FY21 revenue drops 40.4%
French Connection saw its revenues plummet 40.4% year-on-year to £71.5m in the 12 months to 31 January 2021. The fashion retailer and wholesaler’s underlying losses for the period also expanded to £11.7m, from £2.9m the year before, as Covid-19 caused store closures and a reduction to wholesale demand. The group…
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28 April
Sequential Brands offloads Heelys brand
Sequential Brands Group, the owner of a portfolio of consumer brands in the active and lifestyle sectors, has announced the sale of its Heelys brand to BBC International for an $11m (£8m) cash consideration. Founded in 2000, Heelys is a patented product that features a removable wheel in the heel…
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26 April
Boohoo considers linking exec bonuses to ESG goals
Boohoo has told the Environmental Audit Committee (EAC) that it is exploring the possibility of linking senior executive bonuses to environmental, social, and governance (ESG) improvements. The strategy had been recommended to the online fashion retailer during a virtual evidence session with the group’s executives in December 2020. In turn,…
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26 April
Superdry appoints new chairman
Superdry has announced the upcoming appointment of Peter Sjölander as chairman succeeding Peter Williams with effect from 29 April 2021. He has held a variety of executive roles across public company, private equity and founder-led environments. From 2007 to 2015, Sjölander was CEO of Helly Hansen where he delivered a…
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