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 -2 April
Bonmarche stores and jobs at risk after Philip Day acquisition
Bonmarche stores and jobs have been put at risk after Edinburgh Woolen Mill owner Philip Day acquired the clothing retailer for £5.7m. Day told the BBC that if his deal was successful, it would see a “store-by-store profitability assessment” in order to close under-performing stores unless it could implement a…
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1 April
Colin Porter to retire as Joules CEO
Joules CEO Colin Porter is to retire before the end of 2020 after eight years working with the fashion retailer. The exact date of Porter’s retirement is yet to be announced, however a process to appoint his successor has begun with the Joules board set to make an announcement in…
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1 April
40% of shoppers feel no loyalty to fashion retailers, report finds
Some 42% of UK consumers feel “no loyalty” to any fashion retailer, according to a new report into consumer attitudes. The report by customer engagement, loyalty and lifetime optimisation specialist Ello Media, surveyed 1,000 consumers to discover their expectations surrounding loyalty and the loyalty schemes that brands deliver . It…
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Mar- 2019 -29 March
Select calls in admins, 2,000 jobs at risk
Fashion retailer Select is preparing to call in administrators, putting 2,000 jobs at risk, it has been revealed. According to Retail Week, Select filed a notice of intention to appoint an administrator to the high court on Wednesday. Quantuma, the advisory firm, has been lined up to handle the administration…
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28 March
Debenhams bondholders to back £200m restructuring loan
Debenhams bondholders are expected to back a £200m restructuring loan, with a statement today claiming a majority had “provided consent to the amendments sought to the existing notes”. The deadline for bondholders to accept the loan is 5pm tonight (28 March). News of a loan will come as a blow…
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28 March
Shop Direct rebrands to The Very Group
Shop Direct, the digital retailer and financial services provider, has announced plans to rebrand to The Very Group, in order to bring its name and identity in line with its flagship consumer brand Very.co.uk. The company revealed the new corporate identity, which will be unveiled later this year, will support…
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28 March
Arcadia ‘draws up list of 67 store closures’
Arcadia has listed 67 stores it wishes to close across all of its brands, the Financial Times has reported. As seen by the publication, stores of varying sizes across the UK and Ireland with a total annual rent of £11m are set to be shut. These include Burton, Topshop, Evans,…
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26 March
JoJo Maman Bebe founder says retail sector is ‘extremely tough’
The founder of babywear brand, JoJo Maman Bebe, has said consumer confidence is at an all-time low in an “extremely tough” retail sector. JoJo Maman Bebe has seen 20% growth per year and now has the capacity to send out 6,000 parcels a day, recently however, the company says it…
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26 March
Moss Bros suffers £4.2m loss in 2018
Men’s fashion retailer Moss Bros has reported statutory loss before tax of £4.2m for the year ending 26 January 2019. This included store fixed asset impairment charges and dilapidation provisions of £2.6m and reorganisation and employee related charges of £1.2m. EBITDA fell to £6.6m during the year, compared with £13.3m…
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26 March
Sports Direct considers cash offer for Debenhams
Sports Direct has revealed it is mulling over a cash offer for embattled department store Debenhams, despite the retailer rejecting its previous proposals. Sports Direct said Debenhams’ current restructuring and refinancing process was “likely to result in an adverse outcome” for its existing shareholders. The sportswear retailer has made several…
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