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 -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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4 June
Global Fashion Group becomes carbon neutral
Global Fashion Group (GFG) has announced that it has become carbon neutral across its operations and outbound deliveries. The retail group, which operates brands such as H&M, Bershka and Missguided, uses 100% green energy across its nine fulfillment centres in Latin America, the CIS, Southeast Asia, Australia and New Zealand.…
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4 June
Fashion and lifestyle sales almost double in May
Lifestyle and fashion retailers recorded strong performances through the first full month of post-lockdown activity with sustained online sales helping to bolster overall growth, according to BDO’s latest High Street Sales Tracker (HSST). BDO revealed that the lifestyle category saw total like-for-like sales reach their highest result on record, as…
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3 June
JD Sports to sell Sports Unlimited Retail for £14m
JD Sports is set to offload one of its subsidiaries for €16.5m (£14.2m), after agreeing to the sale of Sports Unlimited Retail BV (SUR) to Iberian Sports Retail Group SL (ISRG), its 50.02% subsidiary based in Spain. SUR is a wholly owned company based in the Netherlands, operating under the…
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