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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Mar- 2021 -19 March
Nike global revenues up 3% as online helps offset store closures
Global sportswear giant Nike has revealed that its revenues for the third quarter of the year were $10.4bn (£7.4bn) up 3% compared to the prior year. The retailer revealed that despite a large portion of its store estate in Europe remaining closed during the final two months of the quarter,…
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18 March
Ralph and Russo enters administration
Ralph and Russo has announced that it has been placed into administration putting its 400 worldwide employees at risk. Last week, a spokesman for the brand told Sky News that the company would “fight any attempt” by creditors to force it into insolvency. Following a year of affected trading caused…
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17 March
Laura Ashley to debut Next collection
Laura Ashley has announced it will launch its spring 2021 collection with Next online and in 48 stores. The group previously launched a partnership with Next after it was rescued by the Gordon Brothers from administration. The collection will feature Laura Ashley’s homeware, alongside an array of new designs with…
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15 March
In The Style announces successful AIM admission
In The Style, an e-commerce womenswear fashion brand, has announced the successful admission of its entire issued and to be issued share capital on the London Stock Exchange’s junior AIM market. The admission sees 5.5 million new ordinary shares and 24 million existing ordinary shares placed at 0.25 pence and…
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15 March
LionRock capital completes Clarks deal
LionRock Capital has confirmed the completion of its partnership with Clarks, as initially announced on 4 November 2020, which will see it acquire a majority stake in the business for an investment of £100m. The board has also announced the appointment of Victor Herrero as executive chairman and CEO, replacing…
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15 March
H&M Q1 sales fall 21% to £3.4bn
H&M has announced that group net sales decreased by 21% in local currencies to SEK 40.1bn (£3.4bn) in its first quarter of trading, compared with the same period the previous year. The group stated that sales development was “significantly affected” by the Covid-19 situation, with over 1,800 stores temporarily closed…
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12 March
Mothercare to float on junior stock market
Mothercare has announced its intentions to float on admission (AIM) on the junior stock market at £0.01 per ordinary share. Following this move, the company stated that its admission of the ordinary shares on the main market of the London stock exchange and to the premium listing segment of the…
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12 March
JD Sports enters Eastern Europe with MIG acquisition
JD Sports has expanded into Eastern Europe, with plans to acquire 60% of Polish fashion business, the Marketing Investment Group (MIG). Based in Krakow and founded in 1989, MIG is currently majority owned by brothers Andrzej and Zbigniew Grząka. The business operates 410 retail stores and associated trading websites across…
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11 March
Prada posts £46m loss
Luxury Italian fashion brand Prada SpA has announced a net loss of £46m for the year ended 31 December 2020. While the group reported net profits of £108m for H2 of the financial year, its total revenues for the period fell 24% year-on-year to £2.09bn. Moreover, retail sales at Prada…
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11 March
M&S adds third-party brands to online offering
Marks and Spencer has announced a set of third-party brands such as Joules and Sosandar are to be added to its online offering. The move is the first wave of guest brands to be marketed and sold under the banner ‘Brands at M&S’. The new offering is part of M&S’s…
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