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 -3 April
Secret Sales acquires Germany’s Dress-For-Less
Secret Sales, the marketplace for off-price retail in fashion, sportswear and beauty, has continued its international expansion with the acquisition of German online retailer, dress-for-less for an undisclosed sum. The “natural next step on an aggressive merger and acquisition (M&A) strategy”, Secret Sales said this deal solidifies it as “one…
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2 April
Shein profits clear $2bn mark ahead of IPO
Shein has seen its profits double to over $2bn (£1.6bn) while it waits to launch its IPO in either London or New York, according to the Financial Times. Furthermore, the company saw its sales jump to $45bn, becoming one of the most profitable fashion companies in the world. Only Inditex,…
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2 April
Superdry CEO abandons takeover as Hilco extends funding facility
Superdry CEO Julian Dunkerton’s plan to takeover the group has fallen through, as the fashion retailer has announced a funding facility extension of £20m with Hilco. The news comes after Dunkerton’s deadline to make an offer for the retailer was extended earlier this month. A statement in the London Stock…
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Mar- 2024 -28 March
Quiz CEO steps down as sales dip
Quiz has revealed that founder and CEO Tarak Ramzan is stepping down from his role with immediate effect as UK sales continue to be impacted by “subdued levels of traffic” in-store and online. Ramzan, as the largest shareholder of the company, will assume a non-executive director role. Having founded the…
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27 March
H&M H1 profits beat expectations despite sales dip
H&M has revealed that its operating profit increased to SEK2.077bn (£155m), up from SEK725m (£54m) despite net sales decreasing to SEK53.6bn (£376m) during the first quarter of the year ended on 29 February 2024. The group has said that sales from 1-25 March increased by 2% in local currencies compared…
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27 March
Asos, Boohoo and Asda commit to green claim changes after CMA probe
Asos, Boohoo and George at Asda have committed to change the way they display, describe, and promote their green credentials, after the Competition and Markets Authority (CMA) launched an investigation to scrutinise their fashion ‘green claims’. The CMA launched the review in July 2022 having identified concerns of possible greenwashing…
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26 March
Asos maintains profit guidance despite HY sales falling 18%
Asos has reported that sales fell by 18% during the half-year period to 3 March, which the online retailer maintained is still broadly in line with expectations. According to the group, it expected FY23 trends to continue through to the first half of FY24, as it worked to improve…
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21 March
Next profits hit record high of £918m
Next has revealed its profit before tax increased 5% to £918m as it focused on improving its product ranges, online service levels and managing its costs and profitability. It comes as group sales also increased 6% to £5.84bn as the company onboarded further companies onto its Total Platform. Next also…
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20 March
Abercrombie & Fitch signs agreement for new Oxford St store
Abercrombie and Fitch has signed an agreement with global real estate group, Hines, that will see it open a new store on Oxford Street. The fashion retailer signed a multi-year lease on the entire retail space at 325 Oxford Street, which covers two floors in the mixed-use retail and office…
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20 March
Kontoor Brands appoints new COO
Lifestyle apparel company Kontoor Brands has announced the appointment of Tom Waldron as its new chief operating officer. In his new role, Waldron will assume responsibility for two of the company’s consumer brands, Wrangler and Lee, globally. In addition, he will maintain oversight of the company’s global supply chain operations. …
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