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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Jan- 2020 -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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21 January
The Dune Group CEO James Cox announces departure
The Dune Group’s CEO, James Cox, is set to depart from the shoe retailer on 9 March, after more than a decade with the company. According to Drapers, Cox will remain on the board as a non-executive director, while executive chairman and founder Daniel Rubin will take over as chief…
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21 January
Joules revenues hit by late Black Friday
Fashion retailer Joules has reported a 1.4% decrease in group revenue to £111.6m for the half-year period ended 24 November 2019. The group said the results were impacted by the timing of Black Friday, which fell in the second half of FY20, but the first half of the financial year…
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16 January
N Brown Group issues profit warning amid falling revenues
The owner of plus size clothing brands Simply Be and Jacamo, the N Brown Group, has issued a profit warning amid falling revenues. The group has revealed it now expects full-year profits to come in lower than previous expectations of £78-£84.1m at around £70m-£72m. In the 18 weeks to 4…
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15 January
Quiz sales tumble amid ‘challenging’ Christmas
Quiz suffered a “disappointing” period of Christmas sales, as group revenue fell by 9.3% over the seven week period ended 4 January 2020. The retailer said it experienced a reduction in footfall compared with the prior year, which resulted in stores and concessions revenue decreasing by 7%. The group also…
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14 January
Boohoo reports ‘strong growth’ over Christmas
Boohoo has reported a period of “strong growth” across all its brands in the four months ended 31 December. Total group revenue grew by 44% to £473.7m across all geographical regions, while total UK revenue increased by 42% to £255.8m. The US division also saw revenue increase by 57% to…
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10 January
Superdry warns on profits amid ‘lower than expected’ Christmas sales
Embattled clothing retailer Superdry has issued a profit warning after peak trading sales came in “lower than expected”. Superdry said it now expects pre-tax profits to come in between £0-£10m compared with previous estimations of around £20m. It said that the high street has seen “unprecedented levels of promotional activity”…
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10 January
Joules issues profit warning following stock issues
Joules has announced that sales over the Christmas period were “significantly behind expectations”, with retail sales down 4.5% against the prior year. The fashion retailer claims that sales were affected by “disappointing” online sales, which was caused by internally generated stock availability issues. Despite traffic to its website increasing 8%…
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8 January
Shoe Zone profits slip due to ‘government imposed’ cost increases
Shoe Zone has reported a decrease in profits before tax to £9.6m, down from £11.3m the previous year, attributed to “government imposed increases” in its operating costs, primarily through the impact of increasing business rates. For the year ended 5 October 2019, the shoe retailer reported a 0.9% increase in…
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3 January
Arcadia Group confirms Westfield Stratford Topshop closure
Arcadia group has confirmed its Topshop and Topman sites at London Westfield Stratford City will close, Drapers reports. The two-storey shop, which opened in September 201, is closing as its lease comes to an end. The closure is not part of the companies seven CVAs which were passed in June.…
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