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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Feb- 2021 -8 February
Kurt Geiger reports pre-pandemic growth
Luxury footwear and accessories retailer Kurt Geiger has reported pre-pandemic growth to both its revenues and profits. Accounts filed at Companies House revealed that the group’s turnover rose to £347m for the year ended 1 February 2020, a year-on-year increase of 3.7%. Operating profit for the period also grew from…
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5 February
Ralph Lauren sees Q3 revenues drop 18%
Ralph Lauren has announced that in its third quarter ended 26 December 2020, revenues decreased by 18% to $1.4bn (£1.02bn) attributed to the impact of Covid-19 and government restrictions on trade. Europe revenue in the third quarter decreased 28% to $316m (£230m) on a reported basis and decreased 32% in…
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5 February
Dune mulls CVA, drafts advisors for strategic review
Dune is reportedly in talks with landlords about potential rent cuts, which could lead to a CVA depending on negotiations, according to Sky News. The footwear retailer, which was founded in 1992 by Daniel Rubin and employs around 1,200 people across its 42 stores, has recruited advisors from KPMG to…
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4 February
Jigsaw sales down £31m amid pandemic
Jigsaw, a fashion clothing retailer, has reported a fall in sales of £31m for 2020 as a direct result of the Covid-19 pandemic. In reports filed by parent company, Robinson Webster, to Companies House, the group revealed that 60% of its revenue had been generated through online channels. While Jigsaw…
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1 February
Frasers Group acquires New Look’s Brighton store
Frasers Group has reportedly acquired the freehold of New Look’s Brighton store. According to Drapers, the store located at 188-191 Western Road is just one of New Look’s portfolio that is undertaking a rent restructuring following a CVA approved in September 2020. The CVA has ushered in a three-year rent…
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1 February
JD Sports set to acquire DTLR Villa for £360m
JD Sports has announced that it has entered into a conditional agreement for the acquisition of 100% of DTLR Villa for a total cash consideration of $495m (£360m. The UK retailer claimed that approximately $100m (£72.8m) of the total cash will be used to repay existing indebtedness of the company.…
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1 February
Asos acquires Topshop and Miss Selfridge for £265m
Asos has confirmed it has acquired the Topshop, Topman, Miss Selfridge and HIIT brands for a total of £265m, following mass speculation that the Arcadia brands would be snapped up by the online retailer. The group said the acquisition marks a “compelling strategic opportunity” in support of its aim to…
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Jan- 2021 -29 January
H&M FY profits fall 88%
H&M has revealed the extent of damage coronavirus has had on its business, with profit crashing 88% to SEK 2.05bn (£179m) in its full-year results, down from SEK 17.4bn (£1.5bn) the year before. In the full-year ended 30 November 2020, net sales also fell by 18% to SEK 187bn (£16.3bn),…
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29 January
Thomas Pink returns to online market despite LVMH sales float
Thomas Pink has announced it is returning to trade, albeit online, after shutting down its website and social media channels last year. In 2020, the fashion retailer closed its Jermyn Street store in London and was removed from LVMH’s ‘Fashion and Leather Goods’ webpage, which is home to the group’s…
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26 January
JD Sports mulls £400m share placing
JD Sports Fashion is reportedly eyeing up an equity sale of around £400m as it “eyes further opportunities” to expand across the globe. According to Sky News, the group’s board is considering launching the placing as early as this week, with insiders stating that the amount will be “in the…
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