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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Sep- 2020 -23 September
Nike online sales surge in Q1
Nike has announced a significant increase in digital sales in its first quarter fiscal report for this financial year. The sportswear retailer saw digital sales rise by 81% in the three-month period ended 31 August, offsetting falling revenue in its stores due to the pandemic. Despite Nike not releasing a…
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23 September
Joules welcomes ‘encouraging’ performance despite lower sales
Joules has announced that revenue performance was “ahead of expectations” at £39.6m in the 13 weeks ended 30 August 2020. Overall group revenue was down by 18% in the period, however, reflecting the impact of store closures, as well as the disruption seen across its wholesale business. While retail revenue…
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22 September
J Crew to close all UK stores
J Crew becomes the latest US fashion retailer to exit the UK as it prepares to close all six of its British stores in major restructuring effort. According to The Guardian, the chain has now appointed FRP advisory to liquidate its UK business. The closures follow J.Crew Group’s announcement on…
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21 September
Philip Day considering sale of Peacocks and EWM
Retail tycoon Philip Day is reportedly considering the sale of his retail chains Peacocks and Edinburgh Woollen Mill (EWM) and has appointed FRP to seek out interest in the businesses. According to the Sunday Times, Day appointed FRP after receiving an unsolicited enquiry for Peacocks last month. The two chains…
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21 September
Superdry swings to £42m loss in full-year results
Superdry announced it has swung to a pre-tax loss of £41.8m in the full-year ended 25 April, 2020, with underlying profit before tax down by 210% against the prior year. In addition, total revenue fell by 19.2% to £704.4m in the period, reflecting a “planned move away” from persistent discounting,…
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16 September
H&M to return to profitability in Q3
H&M has announced it expects to return to profitability after experiencing a “better-than-expected” recovery during the third quarter of the year. For the 13-week period ending 31 August the Swedish clothing retailer said it expects before-tax profit of approximately SEK2b (£176m). The group said the recovery was the result of…
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9 September
New Look seeks support from landlords as CVA deadline approaches
New Look is calling on its landlords to support a restructuring plan to reduce rent paid on retail sites, after it failed to attract a buyer for the business. The CVA is set to be considered at a meeting on 15 September. A successful vote will see the financial restructuring…
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9 September
Majority of UK consumers change their shopping habits during lockdown
A study by online market vendor Capterra has revealed how consumers’ shopping habits have changed since the start of Covid-19. The study, which was conducted at the end of the summer, revealed that 62% of shoppers felt that their retail habits have been altered as a result of UK self-isolation…
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9 September
Quiz sales plummet, store closures anticipated
Fashion retailer Quiz has revealed its sales have been “significantly impacted” by the pandemic, with total sales falling by 77% to £12.8m between 1 April and 31 August. Its website sales totalled £4.9m in the period, marking a 45% decline against the £8.9m reported the year before. Sales through third…
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7 September
Primark trading ‘stronger than expected’ post-lockdown
Associated British Foods (ABF) has announced that Primark’s trading in the fourth quarter has “exceeded expectations” ahead of its full-year results, which are set to be announced on 3 November. Primark stores reopened over the course of May, June and July, and have since “traded strongly”, according to its parent…
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