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 -2 January
Online retailer Mahabis falls into administration
Mahabis, a specialist online retailer known for its premium slippers, has announced it has gone into administration. The company has ceased trading since it enlisted administrators KPMG on 27 December. It also warned that any customers who returned items would have an “unsecured claim” for any funds owed and added…
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Dec- 2018 -17 December
Laura Ashley to close 40 UK stores as it expands to China
Homeware and clothing retailer, Laura Ashley has announced it is to close 40 UK stores as it expands its Chinese business. Laura Ashley has already closed 40 UK stores since 2015 with owners Malayan United Industries (MUI) planning to reduce its UK presence to 120 stores. The group then wants…
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17 December
Asos issues profit warning after tough November trading
Online fashion retailer Asos has issued a profit warning due to its performance in November coming in “significantly behind” expectations. This is despite a 14% sales increase in its first quarter trading and September and October coming in “broadly in line” with expectations. However economic uncertainty plus weaker consumer confidence…
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14 December
Hobbs chief executive exits amid senior overhaul
Hobbs chief executive, Meg Lustman, is to step down from her role at the women’s fashion retailer as its parent company TFG London undergoes a reshuffling of its senior staff. Lustman, who joined the company in 2014, will depart her role in January. Following the seamless integration of the Hobbs…
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14 December
VF Corporation appoints new Vans EMEA VP
VF Corporation, the clothing and footwear retailer, has appointed Stefano Saccone as its new VP for Vans EMEA. Saccone will take up his position from April 1, 2019. He joins the Vans brand from VF’s Eastpak brand, where he most recently served as VP. He replaces Jan van Leeuwen, who…
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13 December
Russell and Bromley sees 55% profit plunge
Footwear retailer Russell and Bromley has announced a 55% fall in profits in the year to 31 December 2017. The fall represents the company’s third consecutive year of falling profits after it also announced that turnover dipped by 6% to £100.6m across the same period. The retailer called the challenges…
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13 December
Bonmarché shares halve amid second profit warning
Shares in fashion retailer Bonmarché halved this morning (13 December) from 81 pence to 47 pence after announcing it expects losses of £4m for the current financial year. The group blamed the “uncertainty surrounding Brexit” as a significant factor affecting demand, and expects like-for-like sales for Q3 to drop by…
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12 December
Superdry mulls store closures as profits drop 49%
Fashion retailer and brand Superdry has issued a profit warning after pre tax profits fell 49% to £12.9m in the 26 weeks to 27 October 2018. Group revenue was up 3.1% to £414.6m in FH19 compared with £402m in the first half of 2018. With regards to its outlook the…
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11 December
Online non-food spend to top £75bn by 2023, data suggests
Total online spend is forecast to rise 34.5% over the next five years, reaching over £75bn by 2023 as consumers continue to shift spend to digital channels. With online retail spend set to rise 7.5% this year while offline spend increases by just 1%, UK consumers are set to spend…
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10 December
Mike Ashley’s Flannels given £125k rates relief despite £65m turnover
Mike Ashley’s high end fashion chain Flannels has been handed £125,000 in business rates “help” by a local council amid fears that a former pub and nightclub it bought back in 2016 would be left derelict. Doncaster Council agreed the funding to Flannels’ over a “derelict” site at Priory Walk,…
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