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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Jan- 2019 -14 January
New Look reveals plan to slash debt to £350m
High street retailer New Look has announced it has reached an ‘in principle’ debt-for-equity swap proposal with key stakeholders to reduce its debt by 80%. The fashion chain is seeking to cut its debt from £1.35bn to £350m and issue new bonds to raise £150m in capital. It also expects…
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11 January
Boohoo falls foul of ASA again over fur pom poms
Online retailer, Boohoo, has been reprimanded by the ASA (Advertising Standards Authority) again after it was found to be advertising a jumper as “faux fur” which had pom poms that were in fact made from real fur. The advert stated the item of clothing on sale was a “faux fur…
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11 January
Quiz issues profit warning
Fashion brand Quiz has issued a profit warning despite an 8.4% increase in group revenue in the six-week period from 25 November 2018 to 5 January 2019 against the comparable period last year. This was below anticipated revenues and resulted in a “higher than anticipated” level of discounting to clear…
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10 January
M&S sales drop amid ‘difficult’ market
Marks and Spencer has reported a 2.7% drop in its total sales for the 13 weeks to 29 December 2018. Its clothing and home sales saw a 4.8% decline and its food performed slightly better, but still saw a drop with a 1.2% decrease. The retailer said reducing customer confidence…
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9 January
Ted Baker announces 12% Christmas sales rise
Ted Baker has announced a 12.2% retail sales rise for the five weeks leading up to 5 January 2019. The fashion label said it had achieved the positive figures despite “a backdrop of increased promotional activity”. The brand said it had also seen an increase in e-commerce sales of 18.7%…
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8 January
Footasylum issues profit warning after ‘challenging’ Christmas trading conditions
Footwear retailer, Footasylum has issued a profit warning following “challenging trading conditions” during the festive period. Footasylum said it would cut costs after it changed expectations for gross margin in the 2019 financial year, despite revenue still expected to remain as forecast. The retailer blamed “market backdrop, promotional activity and…
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8 January
Joules continues to defy retail gloom over festive period
Joules has continued to defy the retail gloom with an 11.7% sales increase over the festive period. During the seven weeks ending 6 January the clothing and lifestyle retailer said that online sales attributed to almost half of all sales. Joules said the performance was driven through its own digital…
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3 January
Moss Bros appoints former Missguided boss
Gareth Jones, former online chief executive of Missguided, has joined menswear retailer Moss Bros as a non-executive director. Jones left his role at Missguided after eight months in May last year having joined the online fashion store from his post as deputy chief executive at Shop Direct in December 2016.…
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3 January
Next Christmas sales boosted by online surge
Next has revealed better than expected results over the Christmas period despite a 9.2% decline in sales across its bricks-and-mortar stores. However the decline was better than the 13% drop that was forecast by analysts and overall Next reported a 1% rise in full product sales between 28 October to…
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2 January
Greenwoods goes into liquidation
Yorkshire-based menswear retailer Greenwoods has gone into liquidation just 18 months after it was saved from administration. The 158-year-old company is the latest high-street victim closing all of its stores with more than 100 jobs expected to be lost. The retailer originally fell into administration in September 2017, with 40…
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