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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Jan- 2018 -31 January
H&M to open fewer stores in 2018 after quarterly profit drops 34%
Fashion retailer H&M has announced it will open fewer stores in 2018 after reporting a quarterly drop in profit of 34%. Pretax profit in the three months through November, H&M’s fiscal fourth quarter, fell to 4.9bn Swedish crowns (£441.8m). Sales in the fourth quarter also declined by 4%, while H&M’s…
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31 January
Hundreds of jobs at risk as M&S announces store closures
Marks and Spencer has announced plans to close 14 of its stores this year in a move which will affect 468 employees. The closures are part of the British retailer’s ‘transformation plan’ aiming to modernise its stores and meet the changing expectations of customers. Six stores will close by the…
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29 January
Fashion store East enters administration
Fashion retailer East has entered administrations, with 314 employees at risk of losing their jobs. Reports today said the brand closed 15 stores and five concessions stands in order to ‘off-load’ loss making shops. A tough trading environment, which has seen a high street footfall slump, is one of the…
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26 January
Zara opens first click-and-collect store in London
Zara has opened its first ever store designed primarily for ordering and collecting of online orders. The store will be open until May at London’s Westfield Stratford shopping centre, while the chain’s flagship store in the centre is refurbished and extended. The flagship store is being doubled in size to…
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25 January
H&M and Kering named among world’s most sustainable corporations
H&M and Kering are the only fashion retailers to be named in an annual ranking of the world’s most sustainable corporations. The Corporate Knights’ Global 100 index, which was announced at the World Economic Forum in Davos, Switzerland, named H&M as the most sustainable speciality retail company. Meanwhile Kering was…
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25 January
Ralph Lauren hires Burberry digital marketing head
Fashion brand Ralph Lauren has hired Burberry’s previous director of digital marketing, Alice Delahunt, in order to drive digital expansion. Delahunt will be responsible for “elevating the company’s global digital platforms”, enhancing the digital experience for consumers across all channels to drive consumer acquisition, retention, value and revenue. She…
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24 January
Shopping app Depop secures £14m for expansion
Social shopping app, Depop, has secured $20m (£14.1m) in Series B funding in order to help accelerate its global expansion. The app, founded in 2012, currently has over 8 million users and posted $230m (£163.1m) gross merchandise volume in 2017. Depop said the funds will be used for “global growth…
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18 January
Marks & Spencer closes Neasden distribution centre
Marks & Spencer has ceased operations at its Neasden clothing and home distribution centre, transferring staff to other sites in the M&S network. The group’s new Welham Green warehouse will be fitted out and tested during 2018 and is expected to start operations in the first months of 2019. The…
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17 January
Seasalt reports record breaking Christmas sales
Cornish fashion brand Seasalt has reported a record year for Christmas trading, with overall sales up 52% for the five weeks leading up to 6 January 2018. Strong sales growth was recorded both online and in-store, with 72% online year-on-year growth and store sales up by 40%. Additionally, international sales…
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17 January
Hugo Boss reports a strong final quarter for 2017
Hugo Boss has “achieved its goals for 2017” following strong sales in its final quarter, it has reported in its preliminary results for the year. Sales for the luxury retailer were up by 5% to £652m in the final quarter, raising its full year sales by 3% to £2.4bn. The…
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