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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Oct- 2018 -5 October
Nike ‘deeply concerned’ over Cristiano Ronaldo rape allegations
US sportswear brand Nike has said it is “deeply concerned” over rape allegations against Juventus footballer Cristiano Ronaldo, and added it would “continue to closely monitor the situation”. Kathryn Mayorga has alleged that Ronaldo raped her nine years ago in a penthouse suite at Hotel Palms Place in Las Vegas.…
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4 October
Ted Baker posts profit rise of 3.5%
Ted Baker has posted a 3.5% rise in profits before tax and exceptional items to £25m as it continues to deal with “challenging external trading conditions”. During the six month period ending 11 August, the fashion retailer also saw group revenues increase by 3.5% to £306m up from £295m the…
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Sep- 2018 -26 September
Next CEO issues stark warning over the risks of a no-deal Brexit
Simon Wolfson, CEO of clothing retailer Next, has issued a warning over the the dangers of a no-deal Brexit, and said the UK’s departure from the EU needs to be “carefully managed”. In a report released alongside the group’s latest financial update, Wolfson said there were “significant challenges” involved in…
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25 September
Next remains ‘cautious’ despite sales increase
High street retailer Next has posted a sales increase of 4.5% for the half year ending July 2018 but said it remained “cautious” in its outlook for the rest of the year. The retailer’s in-store sales amounted to £925.1m while its online sales were £892.3m for the six months. The…
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21 September
House of Fraser decline leads to French Connection store closures
French Connection has announced it will be shuttering more of its stores following the closure of two under-performing branches in the last six months. The fashion retailer blamed the decline of House of Fraser and poor high street footfall on the fresh closures, and lost £15m in the six months…
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21 September
Moss Bros’ revenue drops as hot weather and World Cup ‘distraction’ affects sales
Menswear retailer Moss Bros has reported a drop in revenue and sales in its half year financial results, covering the period from 28 January 2018 to 28 July 2018. The retailer’s total group revenue, excluding VAT, was down by 3.3% and fell to to £64.5m compared with the previous year.…
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20 September
Cath Kidston clarifies store review reports
Cath Kidston has clarified reports that it is to undergo a formal portfolio review and instead said that it is reviewing individual branches as leases come up for renewal. The fashion retailer, which has 65 stores across the UK, stressed it is looking to move stores where leases are coming…
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18 September
H&M posts 9% sales increase
H&M’s group sales have increased by 9% according to the fashion chain’s Q3 financial update. Performance exceeded analysts’ expectations, resulting in the company’s highest share increase in 17 years. The firm attributed to the results to investment in its online offerings and logistics systems. Investors rallied to what seemed to…
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6 September
Burberry ends practice of destroying unsaleable products
Burberry has announced it will stop the practice of destroying unsaleable products, with immediate effect. The news comes following the details revealed in July through an earnings report that the luxury fashion house destroyed unsold clothes, accessories and perfume worth £28.6m in 2017 to protect its brand. Burberry said the…
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5 September
Quiz to take £400,000 hit from House of Fraser collapse
House of Fraser is expected to receive a £400,000 cash injection from fashion retailer Quiz. Ahead of its AGM the retailer, which has concessions in the department store, said it would provide the money in relation to “outstanding debtor balances and other potential costs”. Quiz will provide a trading update…
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