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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Feb- 2018 -14 February
Primark fined £47,000 over transgender discrimination ruling
Primark has been ordered to pay £47,433 in compensation to a former transgender employee after they were harassed and constructively dismissed. The Employment Tribunal ruled that the retailer was to compensate Alexandra de Souza E Souza, who worked at Primark’s Oxford Street west store, to cover injury to feelings, and…
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13 February
Insolvency cracks showing with one in five fashion retailers
Some 19% of UK clothing retailers are currently exhibiting early warning signs that they are at risk of going insolvent, according to research by accountancy firm Moore Stephens. Out of 35,078 fashion retailers analysed, 6,580 are showing early signs of financial distress, which can include a large fall in revenue…
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9 February
Levi’s reports ‘strongest revenue year for more than a decade’
Levi Strauss & Co has announced its ‘strongest revenue year for more than a decade’, in its report for the fourth quarter and fiscal year ending 26 November 2017. Levi Strauss & Co’s direct-to-consumer revenues increased by 15% for the year, which was boosted by a 20% increase in Q4.…
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9 February
New Look MD steps down following profit loss
The managing director of fashion retailer New Look has departed the company after five years in the position. This follows the news of the fashion retailer reporting a pre-tax loss of £123.5m for the past nine months. Barrasso’s departure is effective immediately from 9 February, and the retailer announced a…
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8 February
Debenhams puts 320 jobs at risk with new cost-cutting drive
Fashion retailer Debenhams has announced a new cost cutting drive that could put 320 positions at risk of redundancy. The firm said the employee reshuffle will improve the company’s finances, after the group’s shares plunged by 20% due to a ‘disappointing’ Christmas trading period. A profit warning was issued due…
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6 February
New Look like-for-like sales drop almost 11%
Clothing retailer New Look has posted poor results for the 39 week period ending 23 December 2017, with a decrease in sales in most revenue streams. For the final quarter of the year, which New Look accounts for as Q3, overall group revenue fell by 6.3% to £1.69bn while group…
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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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