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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Oct- 2024 -14 October
Zalando ups FY guidance as Q3 revenues hit £2bn
Zalando has revealed it has upped its full-year guidance after a strong third quarter of the year in which revenues jumped 5% to €2.4bn (£2bn). According to its preliminary figures Zalando said its third quarter gross merchandise value also climbed by 7.8% year-on-year in the quarter to €3.5bn (£2.9bn). It…
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14 October
Bestseller profits up 8% to £594m
Danish fashion brand Bestseller has reported an 8% increase in profits to DKK 5.3bn (£594m) for the year to 31 July 2024, despite a 4% drop in revenue to DKK 35.6bn (£3.99bn). The group stated that profitability primarily improved due to normalisation and efficiency gains in the company’s logistics operations.…
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11 October
Under Armour opens biggest outlet store in Caledonia Park
Global sports apparel brand Under Armour has opened its biggest outlet store in Scotland at Caledonia Park. The retailer has opened a 3,465 sq ft store at the premium designer outlet village, complementing its high-quality sportswear category alongside anchor brands, Nike and adidas. The store showcases Under Armour’s comprehensive range…
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11 October
River Island falls to £32.2m loss
River Island has fallen to a pre-tax loss of £32.2m for the year ended 30 December 2023, compared with a profit of £7.5m for the same period in the previous year. It comes as the retailer’s sales fell 15% to £701.5m, down from £825.8m in the previous year. It attributed…
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10 October
Uniqlo owner sees profits jump 24% to £2.46bn in FY24
Uniqlo’s parent company, Fast Retailing, has revealed that full-year profits rose by 24.9% to ¥283.4bn (£2.46bn), while total group revenues rose 12.2% to surpass ¥3tn (£16.2bn). In the full year ended 31 August, operating profits also rose by 31.4% to ¥500bn (£2.7bn). It comes as Uniqlo in Japan and internationally…
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10 October
Asos completes Topshop sale
Online fashion retailer Asos has completed the sale of Topshop and Topman brands to a joint venture led by Heartland for an undisclosed sum. The news comes after Asos announced its plans to offload the brands on 5 September 2024, amid a refinancing of the business. Following the sale, Heartland,…
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10 October
N Brown returns to H1 profitability despite revenue fall
N Brown has posted a pre-tax profit of £200,000 for the half year ended 31 August 2024, up from a loss of £2.8m in the same period last year. This profit comes despite the fact that the company saw its revenues fall 6.7% down to £277.2m from £297m. The retailer…
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9 October
Charles Tyrwhitt to open new shop in Trafford Centre
Formal menswear brand Charles Tyrwhitt is set to open a new shop in Trafford Centre in November. The new 1,776 sq ft shop will be located on Upper Regent Crescent and will stock all the brand’s latest Autumn Winter 2024 collections. The collection features both formalwear and casualwear, including shirts,…
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9 October
Primark to open US flagship in Manhattan
Primark is set to open its first Manhattan store in New York City as it continues its US expansion. The store will be located in Herald Square in the revitalised Penn District at 150 W 34th street and will serve as a flagship location for Primark. Located directly across the…
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9 October
Shein’s UK profits double as sales hit £1.55bn in 2023
Shein’s UK arm has seen revenues rise by 38% to £1.55bn in the year ended 31 December 2023, up from £1.12bn the prior year.Meanwhile, pre-tax profit doubled from £12.2m to £24.4m over the year, according to new filings on Companies House. In the latest accounts for Shein Distribution UK Ltd,…
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