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.
-
Nov- 2024 -5 November
Primark profits rise by 51% to £1.1bn in FY24
Primark has seen its operating profits soar by 51% to £1.1bn in the year ended 14 September 2024, as the group hailed a “substantial” improvement in profitability and strong returns amid ongoing investment. Associated British Foods reported that sales for the group rose by 6% to £9.4bn over the year,…
Read More » -
5 November
Asos FY losses widen to £379m despite turnaround progress
Asos has seen full-year losses plunge to £379.3m, widening from its previous loss of £296.7m, as it focused on “setting strong foundations” for future growth through its turnaround plan. In the year ended 1 September 2024, group revenues fell by 18% to £2.9bn, down from £3.5bn the prior year, as the…
Read More » -
4 November
SportsShoes outdoor product sales rise 13% in 2024
SportsShoes has achieved a 13% year-on-year increase in outdoor product sales across its UK and international websites for the first six months of its financial year beginning on 1 March 2024. The £90m turnover online outdoor gear, running shoes and running clothing retailer also secured 7,000 new customers for its…
Read More » -
4 November
Schuh profits rise by 56.8% to £21m in FY results
Schuh has reported that pre-tax profits rose by 56.8% to £21m in the year ended 3 February 2024, as sales and footfall were both on the rise. In its recently filed accounts with Companies House, the footwear retailer reported that turnover increased 7.4% to £380.8m and EBITDA reached £28m, a…
Read More » -
4 November
Mike Ashley dubs Boohoo ‘desperate’ after CEO snub
Mike Ashley has called Boohoo’s decision to appoint a CEO from within “desperate”, after the fast-fashion retailer rejected Frasers’ demands to appoint Ashley as leader of the group.Following the internal promotion of Debenhams CEO Dan Finley to lead Boohoo, Ashley told the Sunday Times: “Independent shareholders be warned, desperate people…
Read More » -
4 November
Mohsin Issa backs GoThrift through new start-up investment fund
Asda co-owner Mohsin Issa, and his partner Victoria Price, have reportedly taken a significant stake in Manchester-based secondhand clothing website, GoThrift, to back its expansion, according to The Telegraph. GoThrift runs an online fashion store where shoppers can buy vintage clothing. It was originally founded by three friends in 2019…
Read More » -
1 November
Castore opens new Manchester store
Sportswear brand Castore has announced the opening of its brand-new store in Manchester’s Arndale Centre on 31 October. Located just off Exchange Court, the new 1,072sq ft space showcases Castore’s men’s and women’s performance sportswear in the heart of the brand’s home city. The store features Castore’s full range of…
Read More » -
1 November
Boohoo snubs Ashley in favour of Debenhams CEO
Boohoo has announced the appointment of Debenhams CEO Dan Finley as its new CEO. The retailer has chosen to ignore the demands of Frasers Group owner Mike Ashley who demanded to be given the role. Finley, who has been with Debenhams for two years, will take up the role with…
Read More » -
1 November
Castore swings to pre-tax loss of £28.8m despite sales surge
British sportswear brand Castore has reported a pre-tax loss of £28.8m for the year ended 4 February 2024 after previously recording a profit of £14.7m the prior year. The group stated that this result has been impacted by non-recurring warehouse consolidation, ongoing investment in the cost base and a challenging…
Read More » -
Oct- 2024 -31 October
Reiss to open new store at Metrocentre
Reiss has announced that it will open a new location at Metrocentre shopping destination. The retailer will open a 3,933 sq ft space in Lower Red Mall in mid-November, stocking menswear, womenswear and accessories. Reiss will join an array of international retailers within this part of the destination, enhancing the…
Read More »
