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 -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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12 April
Bonmarche: Philip Day offer ‘undervalues’ business
Womenswear retailer Bonmarche has said Philip Day’s £5.7m acquisition of the company “materially undervalues” the business and its future prospects. Spectre Holdings, an entity wholly owned by Day, announced the acquisition of more than half of the retailer’s shares on 2 April. He made an offer of 11.445p per share…
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11 April
World’s largest Primark opens in Birmingham
Primark has opened the biggest store in its worldwide portfolio, in Birmingham. The new 161,000 square foot store will be spread across five floors and will feature a Disney cafe, two restaurants, a barber shop and a beauty studio. For the first time, the new Primark will feature a homeware…
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10 April
Asos hit by 87% profit fall
Online clothing retailer, Asos has announced an 87% fall in pre-tax profits down to £4m for the six months leading up to 28 February, against results for the same period during the 2018 financial year. The retailer blamed its profit plunge on a difficult year caused by “heavy discounting” and…
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9 April
New Look to abandon menswear store offering
Clothing retailer New Look plans to remove its menswear offering from its stores from autumn 19, moving it to an online only offering. According to Drapers, New Look aims to start the process of removing its mens offering from its 160 stores in the next four to six months. It…
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8 April
Ann Summers calls in advisers after £3.3m loss
Lingerie retailer, Ann Summers, has announced it has appointed a property adviser in order to help with rent reductions, after a £3.3m loss last year replaced a £2.9m profit in the year previous. The retailer blamed rising store costs along with the fall of sterling due to Brexit, which it…
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8 April
Philip Green proposes to halve Arcadia pension payments
Sir Philip Green is seeking to halve the annual contributions to the Arcadia Group’s pension scheme as part of its restructuring plan. According to Sky News, Green wishes to cut the annual pension fund from £50m to £25m and made the proposal during discussions between Arcadia’s advisers, its pension trustees…
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5 April
JD Sports acquires Pretty Green from administration
Liam Gallagher’s Pretty Green, the boutique men’s clothing brand, has been acquired by JD Sports out of administration. The sale includes the business, brand, online and wholesale business as well as a flagship store in Manchester, securing the future of 67 employees. The remaining 11 stores and 33 House of…
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5 April
Asos threatens to shut down accounts to deter serial returners
Online retailer Asos has updated its returns policy with a clause to deactivate the accounts of shoppers it suspects are returning clothes after they have been worn. The retailer sent an email to customers directing them to its updated terms and conditions page. Under the returns and refunds section, Asos…
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3 April
Superdry’s board resigns following return of founder
Almost the entire board of executives have resigned from retailer Superdry after its founder Julian Dunkerton narrowly won a shareholder vote to return to the company. Dunkerton was appointed interim chief executive after he won the support of 51.15% of the shareholders following a long dispute between Superdry’s management and…
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