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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May- 2024 -30 May
Abercrombie and Fitch Q1 sales surge to $1bn
Abercombie and Fitch has reported a 22% increase in net sales to $1bn (£787.3m) for the first quarter ended 4 May 2024. The American retailer said the positive growth marks the highest first quarter net sales in company history. The group also saw its Q1 operating income climb to $130m…
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29 May
Boohoo ditches £1m exec bonus plan after shareholder backlash
Boohoo has announced that it has decided to withdraw from paying its top executives bonuses worth £1m after it received backlash from shareholders for awarding millions of pounds in bonuses to executives despite widened losses. It comes as some shareholders criticised Boohoo’s plan to hand co-founders Mahmud Kamani and Carol…
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29 May
Primark enters 17th market with new Budapest store
Primark has officially entered its 17th market with the opening of a store in Hungary’s capital Budapest. The move comes after the fashion retailer invested more than €8m (£6.8m) as part of its growth plans in Central and Eastern Europe. Primark’s Budapest store, which spans over 33,900 sq ft of…
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28 May
Ted Baker lender expressed ‘concern’ over administrators
Ted Baker’s largest lender, Secure Trust Bank, has fallen out with its administrators over an alleged conflict of interest, according to reports from The Times. The bank attempted to replace Teneo as it is owned by the same private equity firm that owns a stake in Ted Baker owner Authentic…
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28 May
Gov should be talking about ‘falling apprenticeships’, says John Lewis boss
The outgoing chair of John Lewis, Dame Sharon White, has claimed that the government should be discussing the reasons why apprenticeships are declining instead of the PM’s new national service plan. Speaking on the BBC’s Sunday with Laura Kuenssberg, White, who will step down as boss of John Lewis next…
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28 May
Boohoo shareholders to revolt over exec bonuses
Boohoo is facing a backlash from its investors after awarding millions of pounds in bonuses to executives despite widened losses, The Sunday Times has reported. The fast-fashion group will reportedly face a shareholders revolt at its annual general meeting next month over proposals for a new long-term incentive scheme. According to…
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24 May
John Lewis launches UK’s ‘largest range’ of rentable menswear
John Lewis has unveiled the “largest range” of menswear brands available to rent on the high street, with the likes of Boss Tailoring, Charles Tyrwhitt and new brand Hay Life among others. Searches for “Mens Rental” have been consistently in the top 30 search terms on JL.com for the past…
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24 May
Ted Baker shuts down US stores and website
Ted Baker has reportedly shut down its North American-based stores and website after falling into administration. It is believed that 31 of its US stores and nine of its Canada-based stores are set to close, and both areas can no longer shop on the brand’s website. On 19 March, restructuring…
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23 May
TJX net sales hits $12.5bn in Q1
TK Maxx owner, TJX, has reported that net sales across the group hit $12.5bn (£9.8bn) during the first quarter ended 4 May, having increased 6% compared to the same period last year. This comes as consolidated store sales rose 3% during the period, which TJX said was at the high-end…
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22 May
Mango opens new store in Angel Central
Fashion brand Mango has announced the opening of a new location at Angel Central, the retail and leisure destination located in the heart of Islington, as the brand continues to roll out its ambitious expansion plans. The leading retailer has opened a 3,200 sq ft unit on Angel Central’s ground…
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