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 -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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Jun- 2024 -28 June
Nike FY revenues inch up 1% to $51.4bn
Nike has reported that revenues inched up 1% to $51.4bn (£40.6bn) in the year ended 31 May from $51.2bn (£40.5bn) in the prior year, as fourth quarter revenues were down 2% to $12.6bn (£9.9bn). It comes as the group’s direct revenues for Q4 reached $5.1bn (£4bn), spelling a decline of…
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28 June
Shoe Zone subject of cyber attack
Shoe Zone has confirmed it was the subject of a cyber incident which has resulted in unauthorised access to certain online systems and data.The company said that once it became aware of the incident, it enacted its established IT security protocols and took “immediate steps” to stop the unauthorised access…
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27 June
Quiz renews bank facility amid weakened UK sales
Quiz has renewed its £4m bank facility for a further 12 months to 30 June 2025, as sales within the UK have continued to be impacted by the ongoing cost-of-living pressures since the year ended on 31 March. As of yesterday (26 June), the fashion retailer had net borrowings of…
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25 June
Shein files confidential London IPO paperwork amid possible listing
Shein confidentially filed paperwork to launch its £50bn IPO in London earlier this month, sources have told Reuters and CNBC, despite recent rumours that the float could be scrapped amid pressure from Chinese officials. According to sources, it is “not immediately clear” when Shein plans to launch the IPO. However,…
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