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 -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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7 November
Superdry reveals revenue drop amid ‘good progress’ in turnaround plan
Superdry has reported an 11% drop in revenues for the first half of the year but its returning chief executive hails the “good progress” it has made in its turnaround plan. For the 26-week period ending 26 October 2019, revenues reached £367.8m compared with £414.6m the previous year. Superdry said…
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7 November
Weird Fish becomes first UK retailer to launch grass paper bags
Clothing retailer, Weird Fish, has become the first UK retailer to introduce eco-friendly grass paper bags throughout its stores. The introduction of the grass bags is a part of the company’s ‘The Only Way is Ethics’ sustainable policy. The grass paper bags will replace traditional single-use plastic carrier bags in…
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5 November
Primark profits top £900m in 2019
Fashion retailer Primark has reported an 8% increase in operating profits to £913m, for the year ended 14 September 2019. The fashion chain also saw a 4.2% increase in year-on-year sales to £7.79b, and Primark’s owner ABF hailed the year of “resilient performance” from the high street retailer. Despite like-for-like…
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