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.
-
Mar- 2024 -20 March
Kering warns first quarter revenues to decline by 10%
Kering’s first quarter revenue of 2024 is likely to decline by approximately 10% on a comparable basis, from last year’s first quarter, according to the group’s preliminary trading update. The Paris-based luxury group stated that this performance primarily has reflected a steeper sales drop at Gucci, notably in the Asia-Pacific…
Read More » -
19 March
Ted Baker to call in administrators
The US owner of Ted Baker, Authentic Brands Group, has announced its intention to appoint Teneo Financial Advisory as administrators of the fashion group. It is understood that ABG is in “advanced discussions” with many potential clients for the brand. Currently, Ted Baker has approximately 975 employees and runs 46…
Read More » -
19 March
JD Williams launches new Anthology collection
JD Williams, a leading platform within N Brown Group plc, has launched its new premium capsule collection, Anthology, for spring/summer 2024. The second Anthology range by JD Williams is in response to demand for the debut collection which launched in September last year. Demand for the initial range was driven…
Read More » -
19 March
Castore agrees Umbro Pro Team Sports license
Castore has announced it has completed a deal with Umbro licensee, GL Dameck to sign an exclusive Umbro Professional Team Sports sub-license allowing Castore to market the Umbro brand in the UK, Germany, Austria, Switzerland, Belgium, Netherlands and Denmark. Following a £145m investment round in November 2023, Castore said it…
Read More » -
18 March
Frasers Group calls in administrators for two kids brands
Frasers Group has called in administrators from Kroll Advisory for Kids Cavern and Base Childrenswear on Friday 8 March, Drapers has reported. This comes after the group acquired the two brands from JD Sports in December 2022 in a £47.5m deal. The deal also included Tessuti, Choice, Clothingsites, Cricket, Giulio,…
Read More » -
14 March
Adidas reports first loss in 30 years after Kanye fallout
Adidas has posted its first loss in more than three decades following the financial blow from abandoning its deal with the rapper Kanye West. The group reported a loss of €58m (£50m) in 2023 compared with €254m (£217m) profit in the prior year. The company also reported a 5% decrease…
Read More » -
13 March
Zara owner profits surge by 28% in FY23
Zara owner Inditex has welcomed a “very robust” FY23 performance, as profit-before-tax surged 28.2% to €6.9bn (£5.9bn) while sales rose by 10.4% to €35.9bn (£30.7bn).Gross profits rose by 11.9% to €20.8bn (£17.8bn), and EBITDA increased 13.9% to €9.9bn (£8.5bn) as the group reported strong results both in stores and online. …
Read More » -
13 March
Shoe Zone warns trading to be ‘marginally below’ expectations
Shoe Zone has warned that its trading is marginally below expectations, due to an increase in National Living Wage and higher costs caused by the ongoing Suez Canal situation. At its annual general meeting on 12 March the group also reported a slower than expected end to its Autumn/Winter season.…
Read More » -
12 March
Superdry discusses £20m loan with Hilco
Superdry has confirmed that it is in discussions with Hilco Capital for a loan worth up to £20m. The company stated that it was looking for £10m to provide the necessary liquidity to help implement its ongoing turn around and cost cutting plans. Furthermore, Superdry is looking for additional £10m…
Read More » -
12 March
Mango turnover hits record €3.1bn in FY23
Spanish fashion retailer Mango has reported a 15% increase in turnover, reaching €3.1bn (£2.6bn) for the 2023 financial year. Man and Kids and Teen brands recorded a strong performance, with turnover growth close to 20%, and now represent 11% and 8% of the group’s total turnover, respectively. Meanwhile, Woman continues…
Read More »
