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.
-
Jun- 2020 -2 June
Reiss announces phased reopening of stores
British clothing brand Reiss has announced a phased reopening of a select number of UK stores, effective 15 June 2020. Reiss said following a “successful reopening” of select stores in Europe, the initial phase for the UK will see the brand reopen 26 stores across the country, including both stand-alone…
Read More » -
1 June
Boohoo faces $100m US lawsuit over fake promotion claims
Boohoo is reportedly facing a $100m (£81m) civil lawsuit from a US law firm over claims it misled shoppers over running sales promotions based on “fake” prices. According to The Telegraph, the lawsuit is being brought forward from Californian firms Almadani Law and AI Law which have accused the retailer…
Read More » -
1 June
Primark outlines 15 June reopening
Primark has detailed its plans to reopen its UK estate, following the recent government announcement that non-essential retail may resume on 15 June. It comes as the clothing retailer started reopening its stores across Europe, after European governments began to ease restrictions for retailers following a global lockdown. Whilst the…
Read More » -
May- 2020 -29 May
Monsoon Accessorize on brink of appointing administrators
Fashion retailer Monsoon Accessorize is reportedly on the brink of appointing administrators. According to Sky News, Monsoon’s owner Peter Simon is set to file a notice of intention to appoint administrators shortly. Reports also suggest Simon is lining up FRP Advisory to handle the process. As a result the move…
Read More » -
28 May
Boohoo buys out Pretty Little Thing
Boohoo has announced the acquisition of the remaining 34% of shares in Pretty Little Thing (PLT) from minority shareholders, in a deal that could potentially rise to £323.8m. News of the acquisition closely follows a recent share slide after a short-selling note, issued on 26 May, which alleged that the…
Read More » -
22 May
Clarks to cut 900 jobs as part of new ‘made to last’ strategy
Clarks has announced the launch of its long-term ‘made to last’ strategy that is designed to ensure that Clarks has a “sustainable and successful future”, resulting in around 900 members of staff made redundant. Making the announcement, CEO Giorgio Presca said that the new strategy aims to deliver a new…
Read More » -
22 May
Burberry sales fall 27% amid Covid-19 pandemic
Luxury fashion retailer Burberry has reported a 27% decrease in like-for-like sales in its fourth quarter results, attributing the loss to the coronavirus pandemic. The fashion retailer also revealed a 57% drop in operating profit to £189m compared with £437m during the same period last year. Additionally, in its preliminary…
Read More » -
19 May
N Brown secures new funding as sales drop 25% since lockdown
Jacamo, JD Williams and Simply Be owner N Brown has revealed it has secured a new £50m funding facility as it looks to weather the impact of the coronavirus pandemic which saw its sales fall by 25% over the last six weeks. In a trading update the company said it…
Read More » -
18 May
VF Corp sees FY revenues jump 2% but warns Q1 earnings may halve
VF Corporation, the owner of brands such as Vans, The North Face and Timberland, has reported a 2% increase in full-year revenues but has warned that it expects current-quarter revenue to more than halve due to the coronavirus outbreak. In a trading update for the full-year ended March 28, 2020,…
Read More » -
15 May
Boohoo secures £200m through share placing
Boohoo confirmed it has successfully raised almost £200m in funding following the placing of 58 million shares. The online retailer raised £197.7m through the successful placing of 58,140,591 shares at 340p per share, in a placing led by investment banking boutique Zeus Capital. Following the fundraise, Boohoo will have an…
Read More »
