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 -1 August
Next sales grow 2.8% but shares slump
Next’s shares slumped 6% in early trading, despite the retailer reporting sales growth of 2.8% – boosted by the hot weather – in its latest results. The clothing retailer said in its trading update for the 12 weeks ending 28 July online sales were up 12.5%, but in its retail…
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Jul- 2018 -9 July
Matalan continues strong performance with 4.9% revenue boost
Fashion and homeware retailer Matalan has reported a 4.9% increase in revenue for the 13 weeks ending 26 May 2018. Total revenue increased by £15.5m to £265.9m, with the group pointing to its children’s ranges as the “highlight this season” in addition to strong performance across the board. Jason Hargreaves,…
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5 July
Superdry sees 22% revenue rise, announces ‘special dividend’
Clothing brand Superdry has posted a 22% rise in global brand revenue in its full-year results ending 28 April 2018 and has announced a ‘special dividend’ for the second consecutive year. The fashion chain retailer saw its global brand revenue reach £1.6bn up from £1.3bn in 2017. The company’s retail…
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4 July
Calvetron Brands to close remaining concessions
The administrators of Calvetron Brands, parent company of Jacques Vert and Precis, has served notice on the remaining concessions in the UK, Republic of Ireland and Canada. Benjamin Wiles, Trevor Birch and Philip Duffy of Duff & Phelps, were appointed joint administrators in May and the company made the decision…
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Jun- 2018 -29 June
H&M profits plunge 22% prompting price cuts
H&M has reported a 22% drop in profits before taxation for the first half of the year, with its CEO saying he expects a “tough first half-year”. Profits fell to 6bn Swedish krona (£510m) and net sales were almost flat at 51.98bn krona (£441m). Overall, its sales for 2018 Q1…
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28 June
Fashion market could lose £350m over next year
The British fashion market – covering clothing, footwear and accessories – could lose £350m in the next 12 months, according to new projections from shopper behaviour experts, Kantar Worldpanel. While overall shopper numbers have increased by 228,000 in the 52 weeks ending 3 June, the fashion market declined by 0.4%…
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26 June
Clarks CEO resigns following conduct that ‘fell short’ of company expectations
The CEO of family-owned footwear retailer Clarks has resigned after his “conduct, conversations and expressions fell short” of company expectations. Clarks said that it has accepted Mike Shearwood’s resignation “following an investigation into complaints that breached the company’s code of ethics on a number of occasions”. Shearwood joined Clarks as…
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25 June
MPs to investigate environmental impact of ‘fast fashion’
The Environmental Audit Committee has launched an investigation into the social and environmental impact of disposable ‘fast fashion’ and the wider clothing industry. The inquiry will examine the carbon, resource use and water footprint of clothing throughout its lifecycle. It will also look at how clothes can be recycled, and…
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21 June
Sir Philip Green seeks judicial review as PwC court battle kicks off
The former owner of BHS and current Topshop and Arcadia owner, Sir Philip Green, has requested a judicial review of the Financial Reporting Council’s (FRC) report into PwC’s handling of the retailer’s audit shortly after collapsed. As the hearing into the report prepares to be taken to the High Court…
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19 June
Bonmarché’s £8m profits fight off ‘challenging trading conditions’
Bonmarché has fought off “challenging trading conditions” affecting many high street retailers by posting a 38% increase in profit before tax to £8m in its latest preliminary results for FY18. The women’s clothing retailer reported a surge in profits despite a fall in revenue from £190m to £186m. Store like-for-like…
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