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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Jun- 2019 -14 June
Lululemon sees Q1 sales surge 20%
Athleisure brand Lululemon has posted a 20% increase in Q1 net revenues to $782.3m (£617m). For the period ending 5 May 2019 the company revealed comparable store sales increased 6%, while direct to consumer net revenue increased 33%. Direct to consumer net revenue represented 26.8% of its total net revenue…
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7 June
Monsoon delays CVA
Monsoon Accessorize is understood to have delayed its company voluntary agreement (CVA) after landlords failed to support Arcadia’s restructuring plans earlier this week. A number of landlords are said to have rejected Arcadia’s proposals, which involved rent cuts of up to 70% on 194 shops as they deemed it “too…
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5 June
Forever 21 ‘exploring restructuring options’
American fast fashion retail chain Forever 21 is reportedly exploring its financial options. Sources have told the media that the company is in talks with Apollo Global Management, an American private equity firm, regarding lining up potential debtor-in-possession financing in case the company needed to seek bankruptcy. The source told…
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3 June
Karen Millen owner mulls sale
Icelandic bank Kaupthing, which owns fashion retailer Karen Millen, has reportedly drawn in Deloitte to explore the sale of the company. According to Sky News, Kaupthing is reviewing its options for the retailers and sources said a sale of the company could take months to complete. It is not yet…
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May- 2019 -31 May
Monsoon landlords seek equity stake in exchange for CVA
The landlords of fashion retailer Monsoon Accessorize are reportedly seeking an equity stake in the company in exchange for the support of a CVA. According to Sky News, British Land, Hammerson, M&G Investments and Roubaix Group have written to the company’s owner Peter Simon, asking to negotiate improved terms. Simon…
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31 May
JD Sports’ Peter Cowgill to receive £6m bonus
JD Sports chairman Peter Cowgill is set to receive a £6m bonus following his “exceptional performance” at the sportswear retailer. The retailer’s remuneration committee recommended the payment due to the fact that Cowgill has not received any awards under the company’s incentive plans. The committee also found that Cowgill has…
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30 May
N Brown hires first chief brand officer from Missguided
Jacamo owner, N Brown has announced it has appointed Kenyatte Nelson from Missguided as its first ever chief brand officer. At Missguided, Nelson is currently chief customer officer and before that spent three years as group marketing director at Shop Direct. Nelson will begin his new role with N Brown…
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29 May
UPDATE: Reiss owner denies reports of potential sale
The owner of fashion retailer Reiss has called reports of a potential sale of its majority stake in the business as “categorically untrue”. According to The Telegraph Warburg Pincus was considering the appointment of bankers to administer the sale with a formal process expected to start before the summer. However…
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29 May
Reiss owner mulls sale of majority stake
The US private equity firm Warburg Pincus is reportedly mulling over the sale of its majority state in upmarket fashion retailer Reiss. According to The Telegraph Warburg Pincus is considering the appointment of bankers to administer the sale with a formal process expected to start before the summer. Warburg Pincus…
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28 May
Monsoon founder to inject £34m into business to avoid collapse
The founder of women’s clothing and accessories chain Monsoon has pledged to provide up to £34m in funding for the company to avoid its collapse. Peter Simon is reportedly seeking rent reductions for roughly two thirds of its 271 outlets in a bid to keep stores open and improve the…
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