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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Sep- 2024 -30 September
Boohoo considers break-up of business
Boohoo bosses are reportedly mulling a break-up of the company after shareholders have pressured the group to revive the business. According to The Times, a number of shareholders at the online retailer are understood to have urged the board to break up the group and spin off its core brands…
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26 September
H&M lowers profit target as sales flatline in Q3
H&M has revealed that it does not expect to hit its profit margin of 10% which it forecast for the full year as it posted flat net sales of SEK59bn (£4.35bn) for the three months ended 31 August 2024. Its operating profit in the third quarter dropped 26% to SEK3.5bn…
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25 September
Asos to axe more than 200 head office jobs
Asos could reportedly axe over 200 jobs at its head office as it mulls a restructuring amid recent heavy losses at the company. According to The Mirror, head office employees now face job losses as the company is looking to streamline the business in a bid to return to profit. Asos…
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25 September
ASA bans ‘misleading’ Nike trainers advert
The Advertising Standards Authority has banned a Nike trainers ad for potentially misleading customers. The ad, which featured an image of a pair of trainers with the caption ‘Now just £26 at Nike!’, clicked through to a product listing on the Nike website but was only limited to sizes UK…
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24 September
Represent Clothing turnover hits £80.8m in FY23
Clothing retailer Represent has delivered “exceptional” results for the year ended 31 December 2023, as its turnover increased 67% to £80.8m. Its operating profit-before-tax also increased from £9m in 2022 to £13m in 2023. Meanwhile, the group reported EBITDA of £14.6m, reflecting an increase of £4.8m in the prior year.…
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23 September
Berghaus opens store at Gloucester Quays
Outdoor brand Berghaus has opened its second standalone UK store at Gloucester Quays. The new Berghaus store has opened opposite Adidas, delivering its outdoor-focused philosophy and signature range of performance gear to the South West in a standalone store for the first time. Designed to ensure proper support for outdoor…
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23 September
Oliver Bonas profits fall to £6.8m amid high inflation
Oliver Bonas profits dropped to £6.8m for the year ended 31 December 2023 as the company struggled with growing interest rates and high inflation. Although profit before tax fell 5%, EBITDA rose by 11%. Turnover for the company was also up 18% to £136m. In addition, on the digital side,…
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23 September
Hugo Boss profits drop to £12.3m in FY23
Hugo Boss has reported a 50% decline in profits to £12.3m and a 39% decrease in operating profit to £19.7m for the year ended 31 December 2023. Its turnover also decreased by 3% during the year to £392m. Retail sales decreased from £206.9m to £204.2m, while wholesale turnover dropped from…
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19 September
Levi’s opens new store in Knightsbridge
Levi Strauss and Co has announced the opening of its new Levi’s store in London’s Knightsbridge Estate, the second largest retail hub in the UK capital. The new store, with a “prominent” glass façade, spans approximately 300m² across two floors, delivering “elevated” retail experiences to London shoppers and reinforcing the…
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19 September
Next ups guidance again as it closes in on £1bn profit
Next has announced that it has upped its full-year profit guidance by £15m, up to £995m, as it closes in on £1bn profit. This is the second time in two months that Next has increased its guidance after increasing it in August to £980m as a result of strong summer…
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