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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Aug- 2020 -18 August
C&A chairman outlines revival plans
C&A chairman Allan Leighton is reportedly planning to “turnaround” the 179-year-old clothing retailer, by making the company independent of its founders the Brenninkmeijer family. According to the Financial Times (FT), the group’s current CEO, Edward Brenninkmeijer, is set to leave his seat as CEO Europe and overall CEO for a…
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14 August
New Look to secure £40m of funding
New Look has agreed a deal with its creditors to secure an additional £40m of funding to help ride out the covid-19 pandemic. Under the terms, New Look said it will have funding to provide a sustainable platform for post-Covid trading and enable the group to invest in, and deliver,…
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13 August
Very Group to return to profit as revenues pass £2bn
The Very Group has forecasted a return to profits for the FY20 as it revealed annual group revenues passed £2bn for the first time. In a trading update for the full-year ending 30 June, the company said it saw a 65% increase in website visits driving “exceptional” retail sales growth…
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12 August
Asos forecasts rise as returns fall
Asos has announced that sales and profit for its full year of trading are expected to be “significantly ahead” of market expectations. The retailer said that revenue growth is now expected to be between 17% and 19%, with profit before tax in the region of £130m to £150m. The strong…
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11 August
New Look eyes second CVA deal
Embattled fashion retailer New Look is reportedly planning to launch a second CVA that will ask its landlords to switch to a turnover-based rent system. According to reports it is set to appoint ‘Big Four’ accountancy firm Deloitte to negotiate with over 450 landlords across its 480 store estate. It…
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11 August
Zalando sees revenues rise 20%
Online fashion retailer Zalando has reported a 19.6% increase in revenues to €3.56bn (£3.2bn) in the first half of 2020, compared with €2.98bn (£2.68bn) in the same period last year. In this period, Zalando reported a 25.1% increase in group GMV to €4.72bn (£4.24bn), compared with €3.77bn (£3.38bn) in 2019.…
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10 August
Superdry secures funding as sales fall
Superdry has secured a new £70m lending facility in a bid to equip it with “flexibility and liquidity” following the coronavirus crisis. It comes as the disruption from the pandemic has continued to “materially impact” its year-on-year performance, despite the fact that trading was ahead of initial expectations in its…
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7 August
Jigsaw eyes CVA plans
Fashion retailer Jigsaw is reportedly set to launch a CVA proposal in the coming week as the ongoing impact of the coronavirus takes its toll on the UK high street. According to Drapers, the womenswear retailer is set to take action a month after it brought in auditing firm KPMG…
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6 August
Joules swings to £2m loss in full-year results
Joules has announced that it swung to a pre-tax loss of £2m in its full-year of trading, down from the £12.9m profit it reported the year prior. Group revenue also fell by 12.5% to £190.8m in the period, down from the £218m reported the year before. The retailer noted that…
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Jul- 2020 -27 July
Arcadia on verge of launching restructuring process
Arcadia is reportedly set to launch a restructuring process just a year after it pushed from a CVA proposal, as it battles to overcome the challenges presented by the coronavirus pandemic. According to the Sunday Times, the retail group owned by Sir Philip Green has presented a cost-cutting plan to…
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