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 -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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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. …
Read More » -
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 »
