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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Mar- 2020 -12 March
Adidas and Puma Chinese sales hit by coronavirus outbreak
Sportswear retailer Adidas has warned sales in its first quarter of its financial year would decrease as much as €1bn (£870) in Greater China, amid the recent impact of the coronavirus. Adidas reported sales would be down by about €100m (£88m) in Japan and South Korea, which will result in…
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10 March
Stella McCartney reports £11m loss
Fashion retailer Stella McCartney has reported an £11m loss in pre-tax profit for its full-year results, attributed to flat sales and a significant increase to its costs. For the year ended 31 December 2018, the British fashion brand reported a 219% decrease in operating profit to £10.8m compared with £9.1m…
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10 March
French Connection posts £3m loss as it warns of continued tough trading
French Connection has revealed it has swung to a £2.9m loss for the full-year period ending 31 January 2020 and has warned of “continued difficult trading conditions”. The underlying loss comes after a restated underlying profit of £0.8m the previous year. Group revenue was also down 11.4% to £119.9m compared…
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9 March
Reiss sales rise 21.9% in full-year results
Fashion retailer Reiss has reported a 21.9% increase in sales to £227.4m in 2019, compared with £186.5m in 2018. For the year ended 1 February 2020, Reiss reported a 51.6% increase in EBITDA to £29.3m compared with £19.3m in 2018, while full-year like-for-like sales increased by 21.6%. Meanwhile, like-for-like sales…
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5 March
H&M launches global supply chain initiative
H&M announced it will be launching a new initiative to provide other retailers access to its global supply chain, in what it says is a bid to “accelerate sustainable change”. The initiative, entitled Treadler, will begin to offer access to its global supply chain as a service to external companies…
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Feb- 2020 -25 February
Ted Baker in talks to offload London HQ
Embattled retailer Ted Baker is reportedly in talks to sell its ‘Ugly Brown Building’ headquarters in London to British Airways’ pension scheme. According to Sky News, in a bid to help its balance sheet after an accounting blunder revealed it had overstated its inventory by £58m, Ted Baker is “close”…
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24 February
Primark owner warns of coronavirus’ impact on supply
Primark owner AB Foods has warned of the impact the coronavirus could have on supply for the retailer if disruption caused by the epidemic in China is prolonged. In a pre-close trading update, AB Foods said while the clothing retailer was “well stocked” in the short-term, if delays to factory…
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20 February
Laura Ashley reports ‘disappointing’ £4m loss
Fashion retailer Laura Ashley has reported losses before tax of £4m for the half-year period ended 31 December 2019. The retailer attributed the “dissapointing” loss to lower sales in home furnishings and “Brexit uncertainty”, and said revenue disruption was also caused by changes with its Japanese franchise partner. The retailer…
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4 February
Frasers Group acquires stake in Mulberry
Frasers Group has bought a 12.5% stake in luxury fashion brand Mulberry. The Mike Ashley-owned group said the move was a “key strategic priority”, and follows on from previous acquisitions of premium brands. Last November, the former Sports Direct International group rebranded as Frasers Group as part of a “multi-channel…
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Jan- 2020 -31 January
French Connection ceases search for buyer amid ‘strategic review’
French Connection has announced it is no longer searching for a buyer for the fashion brand, amid a strategic review. According to Drapers, French Connection will “refocus” on its turnaround which includes the “right sizing” of its store portfolio. The news follows just four months after the fashion retailer said…
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