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 -12 April
Tommy Hilfiger opens new stores in Scotland
Hammerson has announced the opening of two new Tommy Hilfiger stores in Scotland, at the retail estate investment company’s flagship destinations Silverburn, Glasgow, and Union Square, Aberdeen. The new sites will represent the fashion retailer’s return to the country as part of the brand’s expanding store portfolio in the UK.…
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9 April
Zalando nominates Niklas Östberg to supervisory board
Retailer Zalando has announced that Niklas Östberg has been nominated to its supervisory board. Östberg is the current CEO and co-founder of Delivery Hero, he will succeed Jørgen Madsen Lindemann, who informed the nomination committee that he will not stand for re-election after serving as a member since 2016. Cristina…
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9 April
Uniqlo owner sees H1 profits rise 13.7%
Uniqlo’s owner Fast Retailing saw its profit before income taxes climb 13.7% year-on-year to Y171.5bn (£1.1bn) for the six months ended 28 February 2021. The group has also reported a Y31bn (£207.8m) rise in operating profits for the period, increasing from Y136bn (£909.3m) in H1 2020 to Y167bn (£1.11bn) in…
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9 April
Boohoo continues expansion with new warehouse deal
Boohoo has announced that following an exchange of contracts, it has agreed a long-term lease for a new warehouse in Daventry, in a bid to fuel further growth for the group. The site is due to become operational in the second quarter of the retailer’s financial year, and forms part…
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9 April
Asos to raise £500m to aid global expansion
Asos has announced its intention to raise £500m via the placing of senior unsecured guaranteed convertible bonds through its wholly owned subsidiary Cornwall Jersey. The cash injection will be used to fund Asos’ global expansion strategy, as well as refinancing its acquisition of Topshop in February 2021. Issued at par,…
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8 April
Weird Fish expands e-commerce operations
Lifestyle clothing brand Weird Fish has announced a shift in its sales channels to expand its online operations, following an 84% year-on-year growth to its e-commerce sales in 2020. The group also claimed that e-commerce sales have increased a further 354% year-on-year so far in 2021, with overall sales lifting…
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8 April
Barbour sees pre-pandemic profits fall 8.4%
Global lifestyle brand J Barbour and Sons saw its profits fall 8.4% year-on-year to £28.5m for the year ended 30 April 2020. This occurred despite the group’s turnover increasing from £225.2m in FY 2019 to £242.8m the following year. Barbour also saw its operating profit decrease £3.3m to £35.1m during…
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8 April
Asos profits rocket 253% amid lockdown
Asos has announced that its pre-tax profits rocketed 253% to £106.4m in the half-year ended 28 February 2021, as customers continued to turn to online shopping amid the pandemic. The group witnessed a sales growth of 25% across the period, reflecting a strong performance underpinned by “excellent” operational delivery, whilst…
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7 April
VF subsidiary begins operations at fulfilment centre
VF Corporation, through its local subsidiary VF Northern Europe Limited, has announced that it has begun operations at its fulfilment centre in Bardon, Leicestershire, which will employ approximately 250 people during peak periods. The corporation owns brands such as The North Face, Timberland, Horace Small, Vans, Eastpak and Kipling. The…
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6 April
Peacocks rescued from administration, 2,000 jobs saved
Peacocks has reportedly been rescued out of administration in a move that will save 2,000 jobs and 200 of its 400 stores, according to Sky News. The fashion business has been saved by an international consortium, led by former chief operating officer, Steve Simpson. The chain was previously part of…
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