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 -22 May
Inflation falls to 2.3% in April
Inflation has fallen to its lowest level in almost three years to 2.3% in April, down from 3.2% in March, according to the latest figures from the Office for National Statistics (ONS). On a monthly basis, CPI rose by 0.3% in April 2024, compared with a rise of 1.2% in…
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21 May
Shoe Zone profits remain flat amid rise in revenues
Shoe Zone has reported that its adjusted profit before tax remained flat at £2.5m for the 26 weeks to 30 March 2024, as the business was affected by costs relating to increase in National Living Wage, shipping delays due to disruptions in the Middle East and its store strategy. However,…
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20 May
New Look to invest £3.3m in 20 Greater Manchester stores
New Look has announced a £3.3m investment to upgrade and improve its stores in Greater Manchester. The retailer will initially trial several initiatives in its 20 stores in the area over the next 12 months to create a blueprint for further improvements across its wider estate. This will centre around…
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17 May
Under Armour revenues slip 3% to $5.7bn in FY24
Under Armour revenues slipped 3% to $5.7bn (£4.5bn) for the financial year ended 31 March. North America revenue decreased 8% to $3.5bn (£2.7bn), while international revenue increased 8% to $2.2bn (£1.7bn). Within the international business, revenue increased 9% in EMEA, 6% in Asia-Pacific, and 8% in Latin America. Wholesale revenue…
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17 May
Asos to debut in India following Reliance Retail partnership
Asos is set to debut in India following a new long-term partnership with Reliance Retail, India’s leading retailer.Under a long-term licensing agreement, Reliance Retail will be the exclusive retail partner for Asos across all of its online and offline channels in India. Reliance Retail will introduce Asos’s curated portfolio of…
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15 May
Boux Avenue upbeat on performance despite widening losses
Retail boss Theo Paphitis is upbeat on the performance of his lingerie brand Boux Avenue despite the company seeing its pre-tax losses widen from £1.5m to £8.7m, according to its delayed accounts filed with Companies House for the full-year ended 1 April 2023. The brand said external challenges such as…
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15 May
Burberry profits plummet 40% amid luxury spending slowdown
Burberry has seen its pre-tax profits nosedive 40% to £383m in its full-year results, down from £634m the prior year, as the high-end retailer was hit by a slowdown in luxury spending. It comes as sales tumbled by 4% to £2.97bn in the year ended 30 March, with its full-year results…
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10 May
Footasylum to upsize location at Metrocentre
Footasylum is upsizing its location at the top five super regional malls Metrocentre. The retailer is set to increase its presence by 25%, taking a 12,375 sq ft unit enabling it to stock a larger range of streetwear, sportswear, and footwear for men, women, and kids. This relocation and notable…
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10 May
Frasers ups stake in Boohoo to 23.1%
Mike Ashley’s Frasers Group has upped its stake in Boohoo to 23.1% as it continues investing in a number of UK fashion retailers. It has upped its stake from 16.5% and now holds 293,028,671 voting rights in the company. The news comes after it was reportedly revealed that the group…
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10 May
Mothercare enters refinancing talks amid sales decline
Mothercare is exploring its refinancing options after sales fell by 13% to £281m in the year ended 30 March 2024, down from £323m the prior year.According to the group, retail sales were affected by global economic uncertainties, as well as partners still clearing inventory due to suppressed demand during Covid.…
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