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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Jul- 2019 -25 July
CMA launches probe of JD Sports’ acquisition of Footasylum
The Competition and Markets Authority (CMA) has begun its inquiry into JD Sports’ acquisition of footwear retailer, Footasylum. Phase 1 of the inquiry, will look to determine if the takeover could result in “a substantial lessening of competition in any market”. The CMA also said it has “reasonable grounds” for…
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17 July
Zara owner Inditex launches new sustainability strategy
Inditex, the parent company of fashion brands Zara, Pull&Bear, Stradivarius and Massimo Dutti has unveiled its new sustainability line that by 2023 aims to eliminate all single-use plastics for customers sales. At the company’s AGM meeting yesterday (16 July 2019) executive chairman Pablo Isla said “the culture of diversity, innovation…
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12 July
Vans to move into former Miss Selfridge flagship site
Footwear brand Vans have signed a leased to takeover the site previously occupied by Miss Selfridge. Located in Oxford Street, London, Arcadia will remain the landlords of the site. Miss Selfridge will be moving into the basement of Topshop next door. In June, a CVA was approved for Arcadia Group…
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11 July
Bonmarché to be delisted as second largest shareholder sells up
Fashion retailer Bonmarché is set to become delisted as the company’s second largest shareholder sold its stake, meaning Spectre Holdings now owns more than the 75% required to take the business private. Investment fund Artemis sold its 12% share taking Philip Day’s stake up from 69% to nearly 83%. In…
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9 July
Primark founder Arthur Ryan dies aged 83
Budget fashion chain retailer Primark has announced its founder and chairman Arthury Ryan has died at the age of 83, following a short illness. Ryan founded the company, then known as Penneys, in Dublin in 1969 with the news coming just days after the retailer celebrated its 50th anniversary. It…
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5 July
Zalando announces plans to build fulfillment center
Zalando has announced it is to build a new £180m fulfillment center in an existing business park near Rotterdam to help cater for its western European customers. The expansion of its logistics network forms part of Zalando’s 2023/24 growth target and aims to expands its customer proposition for customers in…
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4 July
Monsoon creditors agree to CVA
Monsoon Accessorize creditors have given the green light on the retailer’s CVA plans which will see over half of its stores receive rent reductions. The reductions, which were proposed last month, will see cuts to rents of between 25%- 65% across 135 out of its 258 stores after the retailer…
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2 July
Office appoints advisers amid CVA rumours
Footwear retailer Office has appointed advisers as it considers a potential restructuring of the business. According to Sky News, Office has appointed advisory firm Alvarez & Marsal (A&M) to help plan for a possible Company Voluntary Agreement (CVA) that could see the closure of around 100 UK stores. However sources…
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2 July
Bonmarché managers sell stakes to Philip Day
Bonmarché CEO Helen Connolly, CFO Stephen Alldridge and non-executive director Ishbel Macpherson have sold their shares in the company to Spectre Holdings – an entity owned by Philip Day – despite telling shareholders to not accept his takeover bid in May. Yesterday (Monday 1 July), Connolly sold 42,542 shares to…
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1 July
Poor trading leaves Jack Wills facing ‘cash crunch’
Fashion retailer Jack Wills is reportedly facing a “cash crunch” after a period of poor trading this spring. According to The Times, Jack Wills is rapidly going through the £28m of cash injections arranged by its equity firm owner BlueGem, with sources saying trading has “fell off a cliff”. BlueGem,…
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