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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Apr- 2024 -19 April
American Golf’s ‘reset’ helps it return to profit
American Golf has reported that its strategic ‘reset’ has led to a £5.7m increase in EBITDA from a loss of £1.4m in the prior year to £4.3m, one year after the appointment of CEO Nigel Oddy. The group attributed this positive growth to the action it took to control costs…
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19 April
Bensons for Beds appoints new CMO
UK bed specialist Bensons for Beds has appointed Mark Slater as chief commercial officer and part of its executive team. Having joined the business in an interim capacity in February, Slater brings with him a wealth of experience, having previously worked on the executive team of Howdens plc, a £4.7bn…
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18 April
Adidas raises FY profit guidance amid strong Q1
Adidas has upped its profit guidance for the year after it revealed its Q1 profits increased to €336m (£287m), up from €60m (£51m) the previous year. In Q1, the sportswear giant reported currency-neutral revenues increased 8% versus the prior year level. In euro terms, the company’s revenues grew 4% to…
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18 April
Shein revives interest in acquiring Topshop
Shein is reportedly amongst a “number” of retailers still interested in acquiring the Topshop brand from Asos. According to The Times, Asos has received “non-stop interest” from a range of high-profile retailers, including the fast-fashion giant. Authentic Brands Group (ABG), which now owns Ted Baker and Forever 21, is also…
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17 April
Asos losses widen to £120m in H1 as sales fall 18%
Asos has seen its losses deepen to £120m in the first half of the year, a 32.6% increase compared to the same period last year, as sales fell by 18% to £1.5bn over the period. The dip in sales was attributed to planned discounting to clear old stock, a move…
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16 April
Primark lowers prices on hundreds of kidswear items
Primark is lowering prices on hundreds of its essential kids clothing and accessories as the retailer reaffirms its commitment to keeping prices low on kidswear. The move applies to the price points of selected summer essentials and aims to help families make their money go further as they start planning…
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16 April
Superdry seeks rent reductions as part of restructuring plan
Superdry has revealed its restructuring plan as it seeks reductions in rent across 39 of its UK stores. Furthermore, the company is set to delist itself from the stock exchange and receive an equity raise underwritten by founder Julian Dunkerton. Restructuring is a formal procedure under the Companies Act for…
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16 April
Dr Martens CEO to step down as US revenues decline
Dr Martens has revealed that CEO Kenny Wilson will step down this year, as the shoe retailer expects its USA decline in wholesale revenues to have a detrimental impact on profitability in FY25. Upon Wilson’s departure, the board has revealed that the current chief brand officer, Ije Nwokorie, will step…
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16 April
Sosandar FY revenues rise 9% to £46.3m
Sosandar revenues jumped 9% to £46.3m during the financial year ended on 31 March. The womenswear brand rose from a £1.3m loss in H1 to an expected profit of £1.1m in H2. As a result, the brand expects FY24 to be in line with market expectations with a marginal loss…
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15 April
Charles Tyrwhitt sales jump 45% to £269.2m in FY23
Charles Tyrwhitt’s sales jumped 45% to £269.2m during the 52-week period ended 29 July 2023. The retailer said that the majority of the company’s turnover is due to its digital channel.49% of turnover was derived in the UK while the remaining 51% from its operations in the USA, Australia and…
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