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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Nov- 2024 -19 November
Asos CEO receives £300k pay boost despite widening losses
Asos CEO José Antonio Ramos Calamonte received a bumper pay rise of 44% following a £300k bonus despite the fashion retailer’s losses widening to £379.3m for the year to 1 September. The annual bonus of £361,585, which GMB Union called “rewarding spectacular failure” in The Guardian, comes as Asos saw…
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18 November
Shein targets early 2025 for London IPO
Shein is reportedly targeting an early 2025 launch for its listing on the London Stock Exchange, according to reports from The Times. Insiders with knowledge on the topic stated that the company was gearing up to launch an official investor roadshow during the coming weeks. As such, meetings will be…
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18 November
Boohoo faces criticism after reviving ties with controversial supplier
Boohoo is reportedly facing growing criticism after reinstating a supplier it had previously cut ties with amid a modern slavery scandal. According to an investigation from The Telegraph, the Leicester-based GN Euro is again supplying womenswear to the online retailer, despite being struck off in 2021, after Boohoo was hit…
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18 November
AllSaints set to continue global expansion with new store openings
AllSaints, the global contemporary fashion brand, is set to continue to expand globally with the opening of new stores in the UK, United States, Europe and Asia. In London, the brand is set to open a new store on Brompton Road on 22 November. AllSaints has also expanded its reach…
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14 November
Boohoo raises £39m through fundraiser as half-year losses triple
Boohoo has raised £39.3m through a “significantly oversubscribed” fundraising launch with shareholders after its losses tripled in its half-year results. In the half-year ended 31 August 2024, adjusted pre-tax losses widened to £27.4m, up from a loss of £9.1m the prior year. Revenues also fell by 15% from £729.1m to £619.8m.…
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11 November
Boohoo excludes Frasers from shareholder meetings amid ongoing row
Boohoo is reportedly set to meet its shareholders this week, but is excluding a meeting with majority shareholder Frasers Group amid an ongoing row between the two companies over its governance.According to The Times, newly-appointed CEO of Boohoo, Dan Finley, is understood to be meeting some of the company’s biggest…
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8 November
Boohoo accuses Frasers of ‘commercial self-interest’ as row continues
Boohoo has raised “concerns” over Frasers’ behaviour in a new open letter to the Mike Ashley-owned company, as a row over Frasers’ own involvement in Boohoo continues, with the retailer now accusing Frasers of “commercial self-interest”. Its latest response comes as Frasers sought stronger involvement in Boohoo’s strategic review, with…
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6 November
Salomon debuts in UK with two London stores
Mountain sports lifestyle brand Salomon is debuting in the UK with the launch of two new London stores. The first 3,628 sq ft store located in The Yards, part of Covent Garden, has already opened its doors while a second location in Soho is set to open on 14 November. …
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6 November
Hugo Boss sales remain flat in Q3
Hugo Boss reported flat sales to €1.02bn (£833m) in Q3 2024 despite ongoing macroeconomic and geopolitical uncertainties. In light of the slowdown in sales, the group’s operating profit declined 7% with EBIT amounting to €95m (£79m) in the third quarter. Over the first nine months of 2024, currency-adjusted group sales…
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6 November
Zalando Q3 revenues rise 5% to £2bn
Zalando has reported that revenues rose 5% to €2.4bn (£2bn), with adjusted EBIT climbing from €23m (£19.1m) to €93m (£77.5m) in the third quarter. It comes as gross merchandise volume (GMV) rose by 7.8% to €3.5bn (£2.9bn) against the same period last year. The group’s active customer count also increased…
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