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 -1 April
Next raises guidance despite seeing profits halve
Next has increased its forecasted profits for 2022 by £30m, despite seeing its profit before tax falling 53% year-on-year to £342m for the year ended January 2021. The decline in profits was driven by store closures throughout “a significant portion” of the period, as total group sales dropped 17% to…
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Mar- 2021 -31 March
H&M swings to £92m pre-tax loss in Q1
H&M has announced it has swung to a pre-tax loss of SEK 1.1bn (£92m) in its first quarter trading update ending 28 February 2021. As the group continues to be affected by the Covid-19 pandemic, at the most, it saw around 36% of its total number of stores (1,800 stores)…
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29 March
Garry Weber appoints new CEO
Garry Weber has announced the appointment of Angelika Schindler-Obenhaus as CEO, whose role will take effect from the end of the corporation’s 2021 annual general assembly. Schindler-Obenhaus will succeed her predecessor Alexander Gedat, who assumed the role temporarily in February 2020. She has been a member of the board since…
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26 March
Fat Face reveals it was a victim of a cyber attack
Fat Face has revealed it was the subject of an IT hack on 17 January 2021, where it is believed an “unauthorised third party” accessed staff and customer information. The retailer said following an “exercise involving data analysis and categorisation”, it is now contacting a select number of employees, former…
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25 March
Foot Locker appoints new executive VP and CFO
Foot Locker has announced the appointment of Andrew E. Page as executive VP and CFO, effective April 12, 2021. Page will join the retailer from Advance Auto Parts, where he served as senior VP chief accounting officer and controller, bringing nearly 30 years of finance and accounting experience in retail,…
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25 March
H&M and Nike face ‘backlash’ in China over Xinjiang cotton labour concerns
Nike and H&M are reportedly facing a “backlash” in China after both groups outlined their concerns regarding the Xinjiang cotton trade and suspected forced labour claims. Many Chinese celebrities and online platforms have since dropped H&M and Nike over their stance, according to the BBC. In one instance, actor Wang…
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25 March
Boohoo cuts ties with number of suppliers
Boohoo has published details of its UK manufacturers and new sustainability strategy, marking a key milestone in the group’s ‘Agenda for Change’ programme, whilst noting it has cut ties with a number of suppliers that did not meet its transparency targets. The group confirmed that it has ceased doing business…
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24 March
N Brown board member to step down
N Brown Group has announced that following the appointment of Lesley Jones as chairman of Sainsbury’s Bank, she will step down from the board with effect from 31 March 2021. Jones was appointed chair of Sainsbury’s Bank on 30 January 2021, succeeding Roger Davis, who informed the board last February…
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22 March
Browns CEO to move into the role of chair
Browns has announced some managerial changes within the company which included the moving of Holli Rogers, CEO, into the role of chair with effect 1 April 2021. As part of the changes, Paul Brennan, COO, will be moving into the newly created role of managing director for where he will…
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22 March
Fred Perry to relocate Manchester flagship
Fred Perry has revealed that it is set to launch a new flagship store on the ground floor of Manchester’s Afflecks building. Expected to open this Summer, the store and showroom will cover 2,820 sq ft of retail space on the corner of Oldham Street and Church Street. The brand…
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