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 -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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4 September
Jigsaw creditors approve CVA
Fashion chain Jigsaw has confirmed its proposed CVA approved by its creditors which will see 13 of its stores close and others move to a turnover-based rent system. In addition, around 41 of its stores will also see its rent switch to a turnover-based system. The news comes after reports…
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Aug- 2020 -28 August
H&M Group appoints new chief technology officer
H&M has appointed Alan Boehme as the business’s new chief technology officer as it continues to accelerate its digitalisation work. Boehme, along with chief product officer Daniel Claesson, will co-lead the new Business Tech organisation that is designed to strengthen the business’s development and innovation, as well as ensure an…
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21 August
TK Maxx owner suffers £161m Q2 loss
TJX Companies, the owner of fashion retailer TK Maxx, has reported a net loss of $214m (£161m) for the second quarter of the year, despite better than expected sales. It reported net sales for the three month period ending 1 August 2020 for $6.7bn (£5bn) down from $9.7bn (£7.3bn). Overall…
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