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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Jan- 2021 -7 January
Joules reports online sales boost over Christmas
Joules has reported the group’s online retail channels received a sales boost during the seven-week period to 3 January 2021, with total online retail sales soaring by 66% year-on-year over the Christmas season. The group noted this was primarily driven by traffic growth and improved conversion rates across its digital…
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5 January
Edinburgh Woollen Mill owes creditors over £190m
Philip Day’s Edinburgh Woollen Mill (EWM) owes a reported £192m to its unsecured creditors, according to Drapers. A report from FRP Advisory, which was seen by Drapers, reveals that those who are indebted includes suppliers and landlords, shows that as of 24 December the firm owed a total sum of…
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4 January
Mayfair Equity acquires Seraphine in £50m deal
Seraphine has been acquired in a management buy-out fronted by technology investor, Mayfair Equity Partners. The luxury maternity brand was purchased from Bridgepoint Growth and Seraphine’s founder Cécile Reinaud in a deal valuing the business at £50m. The company reached £28.1m in sales for the year to 31 March 2020…
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Dec- 2020 -24 December
Clarks shareholders approve £100m LionRock Capital rescue deal
Clarks has announced that its shareholders have approved a financial rescue deal from a Hong Kong-based private equity company. LionRock Capital will invest £100m in the shoe retailer as part of a Company Voluntary Agreement (CVA). As a result of this new partnership, none of Clarks’ 320 stores will have…
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23 December
N Brown secures £100m equity raising
N Brown has announced it has completed its £100m equity raising and moved from the London Stock Exchange (LSE) over to the Alternative Investment Market (AIM). The transaction was underwritten by the group’s founder David Alliance, who is also its biggest shareholder. The group, which owns Jacamo and JD Williams,…
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21 December
City Chic Collective acquires Arcadia’s Evans for £23m
City Chic Collective has announced it has entered into a binding asset purchase agreement to acquire the Evans retail brand for £23.1m which will be completed on 23 December 2020. The group said it will also receive the benefit of a transitional services arrangement in connection with the Evans e-commerce…
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16 December
Ocado has largest pay gap between CEO and staff, report finds
Online grocer Ocado reportedly has the highest pay gap between workers on the shop floor and those in senior level positions, according to a new report by the High Pay Centre. The report found that Ocado’s CEO Tim Stenier was paid £58.7m last year, while his employees made an average…
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15 December
Foot Locker appoints senior VP and CIO
Foot Locker has announced the appointment of Himanshu Parikh as senior VP and chief information officer, with immediate effect. In his new role, Parikh will oversee the execution of the group’s strategic technology agenda, as well as support the company’s “key” strategic imperatives and future capability-building and innovation. He will…
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15 December
H&M sales slump in final quarter
H&M has announced that net sales fell by 10% in the quarter ended 30 November 2020, following the impact of store closures and ongoing Covid-19 restrictions around the world. In its latest trading update, the group noted that overall sales have fallen by 18% in its full-year of trading, despite…
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14 December
French Connection secures $6.5m in additional funding
French Connection has announced it has secured $6.5m (£4.9m) in additional funding, as part of its latest trading update. The UK fashion retailer said it secured the funding through the Main Street Lending Programme to support its US-based operations and staff. The loan will be for a period of five…
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