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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Apr- 2021 -23 April
VF Corporation appoints new executive VP and CFO
VF Corporation has announced the appointment of Matt Puckett to the position of executive VP and CFO. Puckett succeeds Scott Roe who revealed he will retire from the company to pursue other opportunities. In his new role, Puckett will report to the group’s CEO, Steve Rendle, and serve on the…
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22 April
Brunello Cucinelli Q1 revenues rise 5.1%
Brunello Cucinelli, the luxury fashion brand, saw its revenue for the first quarter of FY21 grow 5.1% year-on-year at current exchange rates to £143m. The group attributed the performance to a 28.9% spike in its Asia revenues, while Europe also grew 3.9% when compared to the three months to 31…
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21 April
Next CEO pay rises 28% despite falling profits
Lord Simon Wolfson, chief executive at Next, saw his pay increase 28% to nearly £3.4m in FY20, despite the company profit before tax falling 53% year-on-year for the period. While Wolfson did take a cut to his basic salary and did not receive an annual bonus, the group’s non-executive directors…
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21 April
Mulberry launches sustainability manifesto
Luxury fashion house Mulberry has launched a new sustainability manifesto, which outlines the company’s “ambitious commitments” to transform the business to a “regenerative and circular model”, encompassing the entire supply chain by 2030. The launch of the “Mulberry Made to Last” manifesto marks the group’s 50 anniversary year as a…
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20 April
Zara to open new flagship store in Cardiff shopping centre
Zara has announced that it will open a new flagship store at St David’s shopping centre in Cardiff this summer. The new 36,500 sq ft store will be located on Upper Grand Arcade, opposite new entrant Morphe Cosmetics (opening this summer), and near BoConcept’s UK debut store concept (opening this…
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20 April
Primark to repay furlough relief despite seeing HY profits halve
The owner of Primark, Associated British Foods (ABF), has revealed that it intends to repay £121m in relief repayment, despite profits falling 50% to £319m for the 24 weeks ended 27 February 2021. The government support schemes enabled the company to preserve its entire 65,000 workforce for Primark. While overall…
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19 April
Nike warns retail partners to cut down on reselling
Sportswear giant Nike has reportedly warned its retail partners it will cut off the supply of limited edition trainers to their stores if they don’t crack down on staff enabling resellers. According to the Sunday Times, Nike has told its retail partners they face “supply curtailment” if they don’t stop…
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19 April
Hugo Boss appoints new director of Global Marketing
Hugo Boss has announced the appointment of Miah Sullivan as its new director of Global Marketing and Brand Communications. Sullivan, who held a number of management positions at both Luxottica and Furla, will start her new role with the company from 1 May 2021. Recently, Sullivan has served as the…
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15 April
Hobbs sees FY20 turnover fall to £133m
Hobbs, the women’s clothing, footwear, and accessories retailer, saw its turnover for the year ended 28 March 2020 fall 1.8% to £133m. The group’s adjusted EBITDA for the period also declined, falling £1.7m from £21.9m in FY 2019 to £20.2m in FY 2020. Operating profit and profit after tax at…
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13 April
Boohoo acquires new office in Soho for £72m
Boohoo has announced that it has acquired a new office in Soho for the group’s London-based brands for £72m. The new office is intended to become home for all London-based product, marketing, technology and central support teams, offering flexible working for approximately 600 employees. The news follows the retailer’s recent…
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