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 -21 January
Apricot switches to turnover rent after CVA
Apricot, the women’s fashion retailer, has changed the lease agreements for the majority of its UK portfolio to turnover-based rents, according to Drapers. The decision, which will impact 13 of the brand’s 14 UK stores, was reportedly given the green light on 15 January. The move came as a result…
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21 January
Pentland Brands appoints positive business director
Pentland Brands, the retail group which owns brands such as Lacoste, Boxfresh and Speedo, has appointed Sara Brennan as its first ever positive business director. Brennan will be responsible for accelerating the fashion retail group’s business strategy with an emphasis on its social and environmental impact. Since joining Pentland in…
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20 January
Frasers Group increases stake in Hugo Boss
Mike Ashley’s Frasers Group has increased its stake into luxury retailer Hugo Boss to around 15%. Frasers revealed it now has interests 3,611,700 shares of common stock, representing 5.1% of Hugo Boss’s total share capital and 3,377,465 shares of common stock via contracts for difference, representing 4.8% of Hugo Boss’s…
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20 January
Burberry hails strategic progress despite sales decline
Burberry has welcomed a period of “strong” strategic progress in its third quarter, despite sales sliding by 9% in the 13 weeks ended 26 December. The fashion house said that lower sales were attributed to planned reductions in markdown and reduced tourist traffic in outlets. In addition, Covid-19 related store…
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19 January
Superdry swings to £18.9m H1 loss
Superdry has reported an £18.9m loss for the first half of the year, as the company also warned about its ability to continue as a going concern due to the impact of Covid-19 and lockdown restrictions. For the 26-week period to 24 October 2020, it revealed total group revenue declined…
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19 January
Matalan revenue falls 21.5% in Q3
Matalan, the out of town fashion and homeware retailer, has announced its year-on-year revenue plummeted 21.5% for the 13 weeks ended 28 November 2020. The drop in sales from £311.7m to £244.8m came as a result of the “severe Covid-19 related disruption” that the November lockdown caused the firm. Adjusted…
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18 January
Uniqlo reports 7.2% revenue decline
Fast Retailing, the parent company of Uniqlo, has revealed the high street fashion brand’s year-on-year revenue for the quarter ended 30 November 2020 fell by 7.2%. A large profit rise in Asia alongside steady e-commerce expansion did result in a £295m (9.5%) Q1 2021 increase to the firm’s global operating…
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18 January
H&M partners with Simone Rocha
H&M has announced its partnering with Simone Rocha, the Irish designer known for celebrating her inter-ethnic heritage, on an upcoming collection. The collaboration will see the designer’s signature tagged on womenswear, menswear and clothing for children. The new collection is set to launch on 11 March 2021, which will also…
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18 January
Dr. Martens to float on London Stock Exchange
Dr. Martens has announced its intention to float on the London Stock Exchange, with admission currently expected to occur in early February 2021. The shoe retailer has confirmed its plans to apply for admission of the company’s shares to the premium listing segment of the Official List of the FCA.…
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14 January
Boohoo raises guidance as revenue soars
Boohoo has welcomed a period of “strong” trading towards the end of last year, with revenue soaring by 40% to £661m in the four months ended 31 December 2020. In light of this trading performance, it now expects group revenue growth for the financial year to 28 February 2021 to…
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