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 -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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31 January
Laura Ashley CEO steps down
Laura Ashley has announced that Kwan Cheong Ng will retire as the executive director and chief executive officer of the company on 30 April 2020. Ng, who joined as CEO in January 2012, will remain on the board as a non-executive director after his retirement. Katharine Poulter, who is currently…
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29 January
Ted Baker appoints chief customer officer
Ted Baker has announced that Jennifer Roebuck will take up the newly created leadership role of chief customer officer (CCO) following a “thorough search process” conducted by the fashion retailer. Roebuck will move from her current position as chief marketing officer at online beauty market Feel Unique. Prior to this,…
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27 January
Reiss reports 21% increase in Christmas sales
Fashion retailer Reiss has reported a 21% growth in sales during the seven-week Christmas trading period ending 18 January 2020. Reiss also reported an 18% increase in like-for-like sales with UK like-for-like sales also up 15% during the period and 19% on a statutory basis. Reiss revealed it now has…
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22 January
Full value of Ted Baker accounting blunder revealed to be £58m
Fashion retailer Ted Baker has revealed that an accounting overstatement – thought to originally amount to between £20m-£25 – is actually almost three times higher at £58m. In December last year, Ted Baker appointed ‘Big Four’ accountancy firm Deloitte to undertake a comprehensive review of its stock inventory position. In…
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