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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Aug- 2018 -29 August
YNAP to launch first own-brand footwear collection
Yoox-Net-A-Porter Group (YNAP) has announced that its own-brand label for mens fashion, Mr P., which will launch this September alongside the brand’s first foray into footwear and accessories. YNAP said the Mr P.’s footwear line will provide a range of designs that form the “building blocks of every man’s…
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24 August
Victoria’s Secret plans 20 store closures
Victoria’s Secret has announced plans to close 20 stores, the retailer has already closed six North American stores and has announced it intends to close 14 more stores in undisclosed locations. When asked if closures would affect UK stores by Retail Sector, the company failed to provide a response. The…
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23 August
Urban Outfitters records record sales results as shares rocket
Urban Outfitters has announced record overall sales of £769.5m, seeing a 13.7% increase across the three months to July 31. The fashion retailer also announced an 86% income rise over the last quarter, bringing its half year income to £103.9m. The record figures led to a rocket in share price…
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23 August
Crew Clothing acquires Saltrock Surfwear
Saltrock Surfwear, a leisurewear and accessories retail brand based in Devon, has been sold to Crew Clothing Group via a pre pack administration. David Pike and Mark Orton from KPMG were appointed joint administrators to Saltrock Surfwear Limited on 17 August. Immediately upon their appointment, they concluded a sale of…
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22 August
TK Maxx parent company announces 12% sales increase
The parent company of TK Maxx, TJX, has announced it has seen a 12% increase in net sales for the last financial year, double last years figure. Comparable store sales for the company’s European division rose to 4% over the last quarter from just 1% over the same quarter the…
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16 August
Brits wear clothes once for ‘hashtag moment’ before returning items
Almost one in 10 Brits have bought clothes online to wear once with the aim of posting a photo to social media and then returning their purchases. This figure rises to almost one in five among 35-44 year olds (17%), the biggest percentage of any age group. According to Barclaycard…
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15 August
Fat Face sales jump up 7.4%
Clothing retailer Fat Face has announced it has seen an overall sales rise of 7.4% to £238.4m in the 52 weeks to 2 June. Like-for-like growth also rose 4.9% across the same period, despite the company’s CEO Anthony Thompson warning in the company’s last financial update that the UK retail…
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7 August
Phillip Day to snap up Jacques Vert
Retail boss Phillip Day is said to be preparing to add womenswear brand Jacques Vert to his retail portfolio, which has already seen the recent addition of Jaeger. Day will look to acquire the struggling brand through a separate company to Edinburgh Woollen Mill according to Sky News. The deal…
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7 August
New Look reports profit rise
New Look has reported it has stabilised its profits, supported by an overachievement of its cost savings. For the 13 weeks to 29 June 2018 the retailer’s EBITDA was up 1.5% to £27.6m, which was stabilised by £70m annualised cost savings in Q1. Its underlying operating profit up 19% at…
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1 August
Zara unveils new delivery plans to compete with Asos and Boohoo
Zara has announced new delivery plans in order to compete with Asos and Boohoo, the new plans will see it combine its physical and online inventories. The combined inventories will mean items will be shipped from stores, with customers who live closer to stores will be able to get their…
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