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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Oct- 2020 -22 October
TM Lewin owner eyes Jaeger bid
The owner of menswear retailer TM Lewin is reportedly considering a bid for Phillip Day’s embattled retail brand Jaeger. According to Sky News, Torque Brands, the investment vehicle formed by businessman James Cox, is one of a small number of businesses which have expressed interest in acquiring the brand. Jaeger…
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19 October
PwC to step down as Boohoo auditor
Accountancy firm PwC is to step down from its role as auditors of fast fashion chain Boohoo after six years in the position. According to the Financial Times, PwC has resigned from its role due to concerns over the retailer’s governance following allegations of malpractice in its supply chain that…
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16 October
Superdry CFO steps down
Superdry has announced CFO Nick Gresham will step down from the company with immediate effect. The fashion retailer said a search for a permanent replacement is due to start whilst an interim will be allocated in his place. The brand recently announced an overall 210% decline in profit before tax…
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16 October
Edinburgh Woollen Mill to shut 50 stores, 600 jobs at risk
Phillip Day’s Edinburgh Woollen Mill Group (EWM) is reportedly set to shutter 50 of its stores, placing around 600 jobs at risk, as it begins its restructuring process. According to The Telegraph, the majority of the closures will take place in its Edinburgh Woollen Mill and Peacocks chains and will…
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15 October
Uniqlo ‘will recover’ says owner Fast Retailing
Uniqlo owner Fast Retailing has announced that its profit for the fiscal year declined 49% to 90.4m yen (£663,000) down from 178m yen (£1.3m). The decline in profit was attributed to the temporary closure of all Uniqlo stores during the global pandemic. Revenue decreased to 2.01bn yen (£14.7m) for the…
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13 October
French Connection revenue down by 53% during first 6 months
Revenue at fashion retailer French Connection fell by 53% in the first half of 2020, according to the latest update. The brand released an interim report which attributed the steep decline to Covid-19 and its widespread effects on the retail market. The report showed an annual underlying loss of £12.2m…
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9 October
Edinburgh Woollen Mill Group calls in administrators
Philip Day’s EWM Group, owner of retail brands Edinburgh Woollen Mills, Peacock’s and Jaeger has announced it is to appoint administrators to conduct a review of the business. In an update the group said it is “responding to the harsh trading conditions caused by the impact of the Covid-19 pandemic…
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9 October
Boohoo appoints responsible sourcing director
Boohoo has reportedly appointed a new responsible sourcing director as it aims to improve its practices following the independent review of its supply chain. According to Drapers, the retailer has appointed former Primark director Andrew Reaney to oversee its operations at its warehouses and throughout the rest of its supply…
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9 October
N Brown grows retail team with appointments
N Brown Group has expanded its retail team following the appointment of Sarah Welsh as CEO. Shailina Parti has joined the digital clothing retailer as the group buying director, joining from Jigsaw Clothing. Neil Hendy has been appointed as group design director, who joins from senior design roles at Coast…
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8 October
Frasers Group investors back £100m bonus scheme
Investors in Mike Ashley’s Frasers Group have overwhelmingly voted in favour of a new £100m staff reward plan at the company’s AGM meeting yesterday (7 October). Results revealed on the group’s investor page show that 99.97% of shareholders voted in favour of the company’s new ‘All-Employee Omnibus Plan’ that could…
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