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 -21 October
Hotter Shoes to increase UK production
Hotter Shoes’ new owner, WoolOvers, reportedly has plans to increase the number of products it makes within the UK to one million pairs of shoes a year, according to The Times. The news comes after WoolOvers acquired the footwear retailer out of administration for £6.7m a year earlier. Prior to…
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18 October
Boohoo CEO to leave amid strategic review and new debt deal
Boohoo has announced that its CEO John Lyttle is set to step down after five years in the role. He will continue to work with the leadership team and board over the coming months whilst a successor is found. It comes as the retailer has secured a £222m debt refinancing…
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17 October
Mint Velvet opens new store in centre:mk
Mint Velvet, the British womenswear brand, has opened its new boutique and debut Milton Keynes location, within centre:mk’s premium Silbury Arcade. Spanning 2,100 sq ft, the store offers Mint Velvet’s latest collection of womenswear footwear, and accessories. Designed by London-based StudioJill, the interior reflects the brand’s “distinct relaxed glamour identity”. …
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17 October
N Brown agrees £191m takeover deal by Alliance family
N Brown has agreed to a £191m takeover deal that will see Joshua Alliance, a member of the group’s founding family, acquire the company. Alliance, currently a non-executive director of N Brown, made a cash offer of 40p per share through his newly formed company, Falcon 24 Topco. He already owns…
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16 October
Adidas increases full-year guidance after better than expected Q3
Adidas has revealed that it has increased its full-year guidance following a better than expected performance in Q3. Adidas now expects its full-year revenues to increase by 10% on a currency neutral basis, up from high single digits, after a better than expected Q3. Alongside this, the company now expects…
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15 October
Footasylum appoints CCO and senior buying director
Footasylum has announced the appointments of Will Van Rensburg as chief commercial officer and Glen Wilkinson as senior buying director. Van Rensburg joined Footasylum in September and brings a wealth of experience from key leadership roles at prominent retailers, including Clarks Ltd, Under Armour, PVH, and Aldi. In his position…
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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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