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 -8 May
Castore acquires Infinity Inc
Sportswear brand Castore has finalised its acquisition of Infinity Inc, a supplier of branded merchandise, clothing and uniform based in Leeds. The deal is Castore’s first acquisition following a £145m investment in November 2023. As a key supplier, the acquisition will strengthen Castore’s supply chain and enable greater speed to…
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8 May
Boohoo losses hit £160m amid sales slump
Boohoo losses have widened to £159.9m in its full-year results, up from a previous loss of £90.7m, as revenues fell amid a challenging market backdrop over the period.In the year ended 29 February 2024, revenues fell by 17% to £1.46bn, down from £1.77bn the prior year. As well as difficult…
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1 May
Adidas raises profit guidance amid ‘strong’ Q1 results
Adidas has raised its profit guidance from €500m (£426.8m) to €700m (£597.6m) following a “better-than-expected” performance in the first quarter 2024. The group reported an operating profit of €336m (£286.8m) compared with €60m (£51.2m) in the prior-year period, reflecting an operating margin of 6.2% (2023: 1.1%). In the first quarter…
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Apr- 2024 -30 April
Frasers buys back Matches IP from administration
Frasers has announced that it has reached an agreement with the administrators of Matches Fashion to acquire certain intellectual property for an undisclosed sum. Under the terms of the transaction Frasers Group has granted a licence to the administrators that allows them to sell stock owned by Matches. All the…
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29 April
Moss to open new store in Gloucester Quays
Menswear retailer Moss has selected Gloucester Quays for its next store, opening Saturday 4 May. Moss is set to bring decades of tailoring know-how and a history of innovation to meet the changing needs of the menswear customer. Dropping “Bros” from its old name to just Moss, the recent rebrand…
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29 April
Ted Baker’s European arm faces collapse, 149 jobs at risk
The European arm of Ted Baker is reportedly at risk of entering administration with 149 roles at risk.According to Drapers, businesses operating the retailer’s bricks-and-mortar stores in the Netherlands, Belgium and Spain are at risk of entering administration. The process is reportedly dependent on each of the country’s systems. The…
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19 April
Mint Velvet to open new store at centre:mk
British womenswear brand Mint Velvet has announced it will open a key regional store at centre:mk in Milton Keynes. Set to open this Summer, Mint Velvet’s 2,800 sq ft debut store will be located on centre:mk’s premium Silbury Arcade and will stock a full collection of their womenswear, footwear and…
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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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