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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Feb- 2024 -9 February
Lucy and Yak partners with True Fit on AI fit recommendations
British clothing brand, Lucy and Yak, has partnered with True Fit, an AI platform that decodes size and fit for consumers and fashion retailers, to connect its customers with the right sizes digitally. News of the partnership comes after the retailer expanded its fit options to include petite and tall…
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9 February
Under Armour sees dip in profits amid decline in sales
Under Armour has reported a 25% dip in operating income to $70m (£55m) for the three months to 31 December 2023, amid a 6% decline in revenues to $1.5 billion (£1.2bn). The group also reported an adjusted operating income of $92m (£72m). Under Armour stated that the drop in revenue…
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8 February
VF Corporation CFO steps down as group revenues drop to $2.96bn
VF Corporation, owner of Vans, The North Face and Timberland brands, has reported a 16% year-on-year decline in revenues to $2.96bn (£2.34bn) for the 12 weeks ended 30 December 2023 and has announced the exit of CFO Matt Puckett after almost nine years. Puckett will stay on until the group…
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8 February
Primark to invest £100m into UK stores
Primark has announced it is to invest more than £100m in its UK stores in 2024, as it marks 50 years on the Great British High Street. The news includes more than £75m of new investment in UK retail this year, building on plans it announced back in November 2022.…
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7 February
Amazon Fashion partners with resale platform Hardly Ever Worn It
Amazon’s fashion arm, Luxury Stores at Amazon In Europe, has announced its collaboration with resale platform Hardly Ever Worn It, offering an assortment of pre-owned items from “coveted” luxury brands. Customers in the UK, Germany, Spain and Italy can now browse pre-owned (but never or ‘hardly ever’ worn), designer items…
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6 February
Hobbs to open relocated stores after closure programme
Women’s clothing brand Hobbs is set to launch new stores in more favourable locations despite a string of closures, according to the Times. The group, which closed its London’s Bloomsbury, Victoria and Islington stores in recent weeks, will open in seven new locations confirmed for this year, including in Canary…
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5 February
Superdry founder in talks with investors over take-private deal
Superdry CEO and co-founder, Julian Dunkerton, is reportedly in talks with investors as he eyes a takeover deal that could see the London-listed fashion retailer become private, Sky News has reported. According to Sky, Dunkerton has held discussions with Gordon Brothers, which owns Laura Ashley, and Rcapital, which previously owned…
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5 February
Jeremy Hunt to review tourist tax ahead of Budget
Chancellor Jeremy Hunt has reportedly asked the Office for Budget Responsibility to look at whether the scrapping of VAT-free shopping for tourists should be reversed, delivering a much-needed boost to Britain’s retail and leisure sectors, according to The Sunday Times. The Office for Budget Responsibility (OBR) has been asked to…
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5 February
Ted Baker owner mulls CVA amid UK operator split
Authentic Brands, the owner of Ted Baker, is reportedly considering a number of cost saving options after terminating its relationship with AARC, the firm that runs its UK operation. According to The Telegraph, Authentic Brands is close to appointing restructuring experts to implement measures which could include store closures, job…
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2 February
Norwegian hedge fund builds stake in Superdry
First Seagull, a Norwegian alternative investment fund, has built a 5.3% stake in Superdry as a result of its plummeting share price, fuelling rumours of a takeover. According to The Times, the hedge fund sees an opportunity to bid for Superdry after multiple profit warnings over the last few years.…
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