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 -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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7 October
Clarks may turn to CVA to secure LionRock rescue deal
Embattled shoe retailer Clarks may reportedly resort to launching a CVA that could lead to some store closure in order to secure a rescue deal from potential investors LionRock Capital. According to Sky News, any rescue deal from LionCapital is reportedly contingent on a CVA proposal being approved by its…
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6 October
Ann Summers moves towards CVA
Ann Summers has suggested that it is likely to launch a CVA after the lingerie retailer failed to negotiate rental terms with landlords. The company has started talks with the British Property Federation, which would likely lead to the beginning of the insolvency process. More than half of the landlords…
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6 October
Shadow Health secretary urges Boohoo investors to oust bosses
The shadow health minister has urged Boohoo’s largest investors to remove its current bosses following reports of unsafe working conditions at some of its warehouses. According to the Daily Mail, Liz Kendall has written a letter to Jupiter, Invesco and Baillie Gifford calling for them to remove chairman Mahmud Kamani…
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