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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Jul- 2024 -16 July
Pangaia opens first UK store in Carnaby Street
Lifestyle apparel brand Pangaia has opened its first UK standalone store at 57 Carnaby Street. The environmentally focused retailer has opened a 1,500 sq ft space on Carnaby Street, bringing its collection of premium lifestyle products to Soho and the UK for the first time as a standalone unit, stocking…
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16 July
Sosandar revenues rise to £46.3m in FY24
Sosandar’s revenue rose by 9% to £46.3m in the financial year ended 31 March, as the company prioritised margin enhancement and profitability. The company experienced its largest quarter of revenue ever in Q3, with revenue up 23% against Q3 FY23. Q4 was also “strong”, resulting in H2 being “well ahead”…
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16 July
Tala secures £5m investment to fund international expansion
Activewear brand Tala, founded by entrepreneur Grace Beverley and led by CEO Morgan Fowles, has secured £5m of investment as it plans for international expansion. Pembroke VCT, who participated in an investment round in the business in 2021, has “cemented its longstanding confidence in the brand”, leading the round with…
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15 July
Uniqlo owner ups FY guidance as revenues jump 10%
Fast Retailing, owner of Uniqlo and Theory, has upped its full-year operating profit estimate by 24.6% to ¥475bn (£2.3bn). In the nine months to 31 May, the company’s revenue increased by 10.4% year-on-year to ¥2.3trillion (£11bn), while operating profit rose 21.5% to ¥401.8bn (£1.9bn). In Japan, in the three months…
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12 July
Dr Martens says trading in line with expectations ahead of AGM
Dr Martens has revealed that since the start of the year trading has been in line with expectations, ahead of its annual general meeting (AGM). The footwear retailer has also announced that its current financial year will be “very second-half weighted” particularly in terms of profits, citing that Q1 has…
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11 July
Frasers Group further increases stake in Hugo Boss
Frasers Group has announced that it has upped its investment in Hugo Boss, increasing its overall stake from €360m (c. £305m) in May to €490m (c. £415m). The group now has 5.6m shares of common stock, representing 7.99% of Hugo Boss’s total share capital. It also owns 9,721,000 shares of…
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2 July
M&S launches clothing repair service
Marks and Spencer has recently announced it will offer a dedicated clothing repair service for the first time. With new insight from M&S revealing only 10% of the population is confident enough to repair clothing themselves and 60% of consumers looking for retailers to offer more services which support them…
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2 July
Shoe Zone posts profit warning amid continued cost pressures
Shoe Zone has reported that it now expects adjusted profits before tax to be “no less than” £10m for the year ending on 2 October, due to continued cost pressures. The announcement elaborates on the shoe retailer’s 12 March AGM Statement, which also maintained that Shoe Zone continued to experience…
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1 July
Mango Teen opens first UK store in Carnaby Street
Mango Teen, the dedicated youth offering by international fashion retailer Mango, has opened its first store in the UK in Soho. Mango Teen has opened at 14-16 Foubert’s Place, in 2,475 sq ft off Carnaby Street. The store has been designed with its Mediterranean-inspired New Med concept, which embodies the…
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1 July
Fancy dress brand Smiffy’s sold to Ad Populum
Fancy dress retailer R.H. Smith and Sons, trading as Smiffy’s, has been sold to Ad Populum after falling into administration. Headquartered in Leeds, Smiffy’s has been operating for over 100 years and has stores in Liverpool, Newcastle and Oxford. However, the retailer was forced to appoint joint administrators from PwC…
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