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 -23 January
Burberry like-for-like sales marginally up over December
Luxury fashion house Burberry has announced a marginal like-for-like sales increase over December as it “continued to build brand heat” around its new creative direction. Burberry said that same store sales increase by 1% during the 13 weeks ending 29 December. This is despite total retail revenues having dropped by…
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21 January
Vans and North Face owner raises FY forecasts amid revenue boost
VF Corporation (VFC), Vans and The North Face owner, has reported a Q3 4% total revenue growth in its EMEA region and has raised its FY 2019 expectations. In the three months ending December 2018 its Vans brand experienced a global increase of 27% and an 10% increase in its…
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18 January
Moodys lowers Debenhams and New Look ratings
Financial services firm Moodys has changed the outlook for both New Look and Debenhams from stable to negative amid both retailer’s current financial troubles. Debenhams posted a poor Christmas trading update and is currently holding discussions to refinance its £320m revolving credit facility. The department store reported a 3.4% drop…
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18 January
New Look’s Belgium outfit files for insolvency
The board of New Look Retail Group has announced its Belgium arm (NLB) has filed for insolvency following a review of its financial and trading position. NLB, which currently operates six stores in Belgium, said its board concluded it is “unable to continue trading”, and has decided to therefore wind…
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17 January
Primark store expansion boosts festive sales
Fashion retailer Primark recorded a 4% increase in sales over the festive period buoyed by the continued expansion of store space. In a trading update for the 16 weeks ending 5 January 2019, its parent company Associated British Foods (AB Foods) said sales growth was driven by increased retail selling…
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16 January
Jack Wills drafts in advisers
Fashion retailer Jack Wills has reportedly appointed accountancy firm EY to scrutinise and advise on its financial position. According to Sky News, EY – who are led by HSBC – have been brought in to assess its finances and help negotiate revisions to its borrowing covenants. The news comes just…
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15 January
Boohoo raises revenue forecasts amid sales surge
Online fashion retailer Boohoo has raised its revenue guidance for the year after group sales surged 44% to £328.2m in the four months to 31 December. The group, which also operates brands such as PrettyLittleThing and Nasty Gal, experienced a 33% increase in UK sales to £180m up from £135.7m…
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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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