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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Dec- 2019 -6 December
CMA issues interim order to halt JD Sports’ Footasylum acquisition
The Competition and Markets Authority (CMA) has issued an interim order against the proposed £90m takeover of Footasylum by JD Sports, halting any further talks between the two companies until the watchdog’s investigation has been completed. Following the announcement of the deal back in March, the CMA launched an investigation…
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6 December
Boohoo founders sell off £143m of stock
Boohoo founders, Mahmud Kamani and Carol Kane, have announced the sale of 50 million shares in the fashion group, at a price of 285p with a total value of £142.5m. Following this placing, which was announced in a regulatory filing yesterday, the duo now possess just over 184 million shares…
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5 December
Ted Baker drafts in AlixPartners to review operations
Ted Baker has reportedly drafted in consultancy firm AlixPartners to conduct a review of its operations. According to the Financial Times, the firm will review Ted Baker’s operations while coming up with a turnaround strategy. It is thought the appointment is separate to the investigation launched after the company’s board…
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4 December
Quiz profits slide in half-year results
Quiz has announced a “disappointing” fall in profits in its half-year interim results. In the six months ended 30 September, the fashion retailer’s profits fell by £6.8m. This marked a “disappointing” change from the £3.8m in profits posted the year prior. Underlying profits fell by 85% to £0.6m, whilst underlying…
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2 December
Ted Baker reveals £25m stock inventory error
Ted Baker has revealed its profits have been overstated by £25m. The company’s board estimated the value of inventory on its balance sheet was overstated by £20m to £25m, according to a “preliminary analysis”. It added that any adjustment to inventory value would have “no cash impact”, and would instead…
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Nov- 2019 -28 November
Peacocks announced as ‘preferred bidder’ for Bonmarché
Peacocks has been chosen as the preferred bidder to acquire Bonmarché, it was announced this morning. FRP Advisory was appointed administrator for the troubled retailer in October, and joint administrators Tony Wright, Alastair Massey and Phil Pierce oversaw the administration process. Peacocks will now enter a period of negotiations with…
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22 November
Skopes receives £6m investment to fund 15-store expansion drive
Leeds-based menswear retailer, Skopes, is set to “significantly expand” its national high street presence with 15 new stores, after securing a £6m funding package. The brand, which celebrated its 70th anniversary last year, plans to open the 15 stores across the UK over the next two to three years. The…
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21 November
Burberry introduces 18 week parental leave
Burberry will launch a new global parental leave policy, it was announced today. The new policy will offer all employees 18 weeks of fully-paid parental leave. Upon their return to work, employees will also be given the opportunity to work a 30-hour week at full pay for a further four…
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18 November
Shoenvious launches in the UK
The luxury women’s shoe retailer Shoenvious is set to launch in the UK. The company, which allows customers to design and customise their own “one-of-a-kind” pair of shoes using an online 3D shoe designer, was founded in Dubai 2018 by husband and wife partnership Andrew and Saudin Noddings. Shoenvious currently…
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12 November
New Look losses narrow despite ‘ongoing uncertainty’ hitting sales
New Look has reported that its losses narrowed to £11.2m during its half year results despite “ongoing uncertainty” impacting sales. The fashion retailer registered the statutory loss in the 26 weeks to 28 September compared with a loss of £41.9m in the same period last year. Total revenues reached £523.8m…
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