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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Jun- 2020 -25 June
N Brown profits slump amid year of transition
N Brown has announced that its profits before tax plunged 28.8% to £59.5m in the year ended 29 February 2020. This was largely driven by lower gross profit and “lower than expected” IFRS9 provision benefit, according to the group. In the same period, group revenue was down by 6.1% to…
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22 June
JD Sports in talks to appoint administrators for Go Outdoors
Sports fashion retailer JD Sports is reportedly lined up to bring in administrators for its Go Outdoors business. In a statement released this morning, JD Sports said: “The group can confirm that it has considered a number of strategic options for Go and that Go’s directors have lodged the notice…
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19 June
92% of shopworkers oppose longer Sunday working hours, says Usdaw
Some 92% of retail staff in England have opposed large shops opening for more than six hours on a Sunday, as the government considers deregulating Sunday trading. According to a survey by shopworkers trade union Usdaw, 66% of the 11,000 retail staff said they feel they are pressured to work…
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18 June
Allsaints launches CVA proposal
Clothing retailer Allsaints has revealed the launch of a CVA proposal that aims to restructure both its UK and US store portfolio and move to a turnover-based rent structure due to the impact of the coronavirus pandemic. Allsaints said the move comes despite year-on-year revenue growth for five successive years.…
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17 June
Debenhams opens 38 more stores following ‘successful’ Monday reopening
Department store chain Debenhams has announced it will reopen a further 38 stores in England, following the “successful reopening” of 50 of its stores earlier this week. Debenhams revealed that four stores have also reopened in Northern Ireland, whilst the business awaits confirmation from Wales and Scotland as to when…
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17 June
Boohoo snaps up Oasis and Warehouse
Boohoo has acquired the online businesses of Oasis and Warehouse, following a £5.25m cash transaction with Hilco Capital Limited. The fashion group said the brands would be a “complementary” addition to its current portfolio, and it will now work to integrate them onto its platform in the coming months. The…
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16 June
Joules predicts £3m loss after pandemic hit
Fashion retailer Joules has predicted an underlying loss for its 2020 financial year of between £2m and £3m attributed to the impact of the coronavirus pandemic. In a pre-closing update ended 31 May 2020, Joules said the impact of the Covid-19 virus between March and May resulted in a “material…
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16 June
H&M sales halve in second quarter
H and M net sales halved in the second quarter of 2020, tumbling 50% to 28.7bn Swedish krona (£2.4bn) following global lockdowns amid the ongoing pandemic. The fashion giant’s local currency net sales also halved in the period between 1 March and 31 May. E-commerce fared better, however, with online…
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10 June
Quiz places loss-making stores into administration
Quiz has revealed it is placing the division that runs some of its loss-making stores into administration. Quiz said that in order to “protect the future” of the company it has decided to appoint joint administrators from KPMG to the group’s 82 standalone stores in the United Kingdom and the…
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9 June
Sosandar sees revenues spike 62% as it announces John Lewis and Next deals
Online womenswear retailer Sosandar has revealed it has seen revenues spike 62% year-on-year over the past two months since lockdown began. In a Covid-19 trading update Sosandar said it has “responded well to a period of significant disruption and uncertainty”. Adding that as an online-only business, it has been able…
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