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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Sep- 2018 -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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4 September
M&Co reports rocketing online sales
M&Co has reported a rapid rise in its online sales of 18.3% in the year to February which contributed to an overall sales rise of 5.4% up to £211.4m. The group saw pre-tax profit grow by £320,000 to over £3.6m, while like-for-like sales grew by 2.4% across the same period.…
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3 September
Boden reports strong sales increase of 13%
Lifestyle retailer Boden has reported a 13% rise in sales for the year ending December 2017 due to an increase in overseas customers. This increase in sales accounted for £347.1m growth.The company also saw its pre-tax profit rise to £27.3m from £26.2m; an increase of 4%. Boden attributed its strong…
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3 September
Footasylum shares drop by 50% as company warns of losses
Footasylum has this morning issued a profit warning that said it expects to report lower than expected revenue and a loss in EBITDA. Shares in the company dropped by 50% this morning (3 September) following the warning. The footwear retailer blamed “weak consumer sentiment on the high street” for the…
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