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- 2025 -22 January
Boohoo shareholders reject Frasers’ bid to remove co-founder
Boohoo shareholders have “overwhelmingly” voted against the resolution proposed by Frasers Group that would see founder and group executive vice chair Mahmud Kamani removed as director from the company. At a general meeting held yesterday (21 January), 63.17% of shareholders voted against the resolution compared to 36.8% who voted in…
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22 January
River Island drafts in AlixPartners to tighten costs
River Island has brought in AlixPartners to work on a cost reduction and profit improvement exercise ahead of the planned tax rises in April, according to reports from Sky News. Precise details of the exercise were not clear but is not believed to encompass formal restructuring work that could lead…
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22 January
Adidas sees revenues surge 24% to €5.97bn in Q4
Adidas has reported “better than expected” Q4 results as its revenues grew 24% to €5.97bn (£5.17bn) compared with €4.81bn (£4.17bn) in 2023. Excluding Yeezy sales in both years, currency-neutral revenues increased 18%. The company’s gross margin also increased 5.2 percentage points to 49.8%, while its operating profit reached €57m (£49.4m),…
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21 January
Alo Yoga opens new store in Covent Garden
Luxury activewear brand Alo Yoga has opened its new UK location in Covent Garden’s Seven Dials. Located at 25a Neal Street, the new 5,000 sq ft Alo Yoga store features its luxury collections of lifestyle and activewear, including contemporary and trend-forward loungewear, accessories and wellness products. Encompassing three floors, the…
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15 January
Asos to shut US distribution centre to help boost profitability
Asos is set to close its US distribution centre and instead fulfill its US orders from the UK, as part of efforts to boost the group’s profitability in the long-term. The retailer confirmed plans to mothball its Atlanta distribution centre this year and bring the site to market following the completion…
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14 January
Brunello Cucinelli revenues surge to €1.27bn
Brunello Cucinelli has reported a 12.1% rise in FY revenues to €1.27bn (£1.07bn), thanks to “very positive sales” throughout the year. In Q4 itself, the group achieved a turnover of €358m (£301.45m), up 11.6%. Geographically, the Americas saw a 17.8% rise in revenues to €476.5m (£400.8m), an increase of, accounting…
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14 January
JD Sports lowers FY guidance after ‘challenging’ winter
JD Sports has lowered its full-year guidance after it struggled with a “challenging and volatile” market over the Christmas period. The group now expects full-year profits to be between £915m and £935m, down from previous expectations of £955m to £1bn. It comes as like-for-like sales in the nine weeks to…
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10 January
Uniqlo’s owner revenues rise 10% to £4.6bn in Q1
Fast Retailing, the owner of Uniqlo, has reported a 10.4% revenue increase to 895.1bn yen (£4.6bn) during the three months ended on 30 November 2024. The group, which also owns the GU brand, saw a 21% increase in pre-tax profits to 196.6bn yen (£1bn) during the period. Meanwhile, operating profit…
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10 January
Shein’s London IPO to happen by mid-year
Shein is reportedly planning to list in London in the first half of the year, according to sources that have spoken to Reuters. If the move gains regulatory approval, an IPO could be completed as early as Easter on 20 April, one source said. A second source told Reuters that Shein…
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9 January
Boohoo urges vote against Frasers’ motion to remove founder
Boohoo has published a new letter urging shareholders to vote against an upcoming motion to remove Mahmud Kamani as director, following a demand by Frasers to oust the founder.In a new update, Boohoo said its board formed an independent committee composed of all directors other than Kamani to consider the…
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