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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Dec- 2018 -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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7 December
Ted Baker CEO and founder in ‘leave of absence’
The chief executive of Ted Baker, who is facing allegations of misconduct, has taken a “leave of absence” from the company according to an announcement. Read the full statement: On 3rd December 2018 Ted Baker plc (the “Company”) announced that it had appointed an independent committee of Non-Executive Directors (the “Committee”)…
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7 December
Primark owner warns ‘trading was challenging’ for November
Primark owner, Associated British Foods has warned that trading for November was “challenging” for the clothing retailer. The group’s chairman, Michael McLintock, will say at its AGM today that a “tough retail market” was to blame for a challenging month. Trading was “in line with expectations” for the first eight…
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4 December
ASOS appoints Mark Holland as chief operating officer
ASOS has announced the appointment of Mark Holland to the newly-created role of chief operating officer. A member of ASOS’ executive board, Holland has worked for ASOS for six years. His most recent position was supply chain director, where he oversaw ASOS’ global trading, customer care and supply chain functions.…
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Nov- 2018 -28 November
Primark, Topshop and ASOS defend practices in Parliament
Primark, Arcadia, ASOS were among some of the retailers who had executives and representatives appear before the Environmental Audit Committee to answer questions on sustainability in their businesses. This was part of the Environmental Audit Committee’s ongoing inquiry into the sustainability of the fashion industry. Representatives from Marks and Spencer,…
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