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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Apr- 2019 -29 April
Loewe opens flagship store in London
Spanish fashion retailer, Loewe, has announced it has opened a new flagship store on New Bond Street in London after a year-long refurbishment project at the premises. The new three-floor Casa Loewe store will replace the luxury retailer’s Mount Street premises as Loewe’s only London store. The retailer will showcase…
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26 April
Laura Ashley shares tumble 20% amid fresh profit warning
Laura Ashley has seen its shares tumble 20% in early trading after it issued a profit warning indicating figures will fall “significantly below market expectations”. While at the time of writing shares have recovered slightly and now sit at 9.6% down from opening, the news follows the release of its…
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25 April
Shareholders approve JD Sports’ £90m Footasylum takeover
JD Sports has announced its £90.1m Footasylum takeover has been given the go-ahead by shareholders, after it was voted through at a meeting on 12 April. Over 78 million Footasylum shareholders voted for the JD Sports deal, which is said to represent around 75% of the retailer’s capital. Following the…
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24 April
Primark HY profits surge 25%
Primark has seen its half-year operating profit jump 25% to £426m during the six months ending 2 March. Primark said the increase reflected “its continued selling space expansion and improved margins, which were driven not only by favourable exchange rates but also by better buying”. Sales at Primark were also…
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18 April
Sports Direct sells flagship Dublin store for £17.3m
Sports Direct has reportedly sold its flagship Dublin store for €20m (£17.3m) in an off-market sale-and-leaseback deal to an unnamed investor. According to the Irish Times, under the deal, the retailer will continue to occupy the premises while paying the owner an annual rent of €950,000 (£823,802) for the next…
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17 April
Arket launches recycling scheme for ‘unwanted’ clothes and shoes
Fashion retailer Arket has announced a new recycling scheme for unwanted clothes and shoes, due to launch at the end of April at all of its stores. Customers will be able to bring “unwanted textiles” to any store, where the products will be taken care of and returned to the…
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16 April
Aquascutum halves HQ workforce
Coat retailer Aquascutum has axed half of its headquarters-based workforce as part of a review of the retailer’s operations. More than 30 jobs have been axed by the retailer according to reports by Drapers, with most of the affected roles said to have been made redundant, while other staff members…
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16 April
Monsoon Accessorize set to close ‘dozens’ of stores
Women’s clothing and accessories retailer Monsoon Accessorize is reportedly preparing to enter a CVA which could see it close dozens of its stores. According to Sky News, the company has appointed Deloitte to draw up a CVA to be launched within the next few weeks. The agreement will allow the…
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12 April
Louis Vuitton owner sees revenues jump 16% in first quarter
LVMH, which owns luxury fashion retailer Louis Vuitton, has reported a 16% increase in revenues to €12.5bn (£10.8bn) for the first quarter of 2019. Like-for-like sales increased by 11% compared with the same period in 2018, and shares in the group also jumped by 3.3% to €340.50 in early trading…
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12 April
Uniqlo operator issues profit warning
Uniqlo operator, Fast Retailing, has issued a profit warning after it was forced into heavy discounting on its winter range caused by warmer than expected weather. Fast Retailing forecast an operating profit of ¥260bn (£1.79bn) for Uniqlo in the full year leading up to August, down ¥10bn (£69m) according to…
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