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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Mar- 2024 -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,…
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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…
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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. …
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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.…
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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…
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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…
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12 March
Hype co-founders resign
Leicester-based streetwear brand Hype has announced the departure of co-founders Liam Green and Bav Samani less than a year after its pre-pack rescue. Hype entered into administration on 31 March 2023 due to falling sales and tackling excess stock post-Covid. Carl Jackson and Kelly Mitchell of Quantuma Advisory were appointed…
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11 March
Charles Clinkard sales rise 7% in 2023
Footwear retailer Charles Clinkard has announced that overall sales rose by 7% in 2023 compared with the previous year. This success has allowed the business to invest even further into the high street, with a £350k investment into a full refurbishment of its Bristol store last month and an additional…
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11 March
Golden Goose revenues rise 18% in FY23
Italian shoe brand Golden Goose has experienced an 18% rise in net revenues to €587m (£500m) for the year ended 31 December 2023 ahead of its IPO this year. During 2023, the group reported that adjusted EBITDA stood at €200m (£170m), spelling an increase of 19% on FY22. The retailer…
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8 March
M&S expands Nobody’s Child presence to 60 stores
M&S has announced it will welcome fashion brand Nobody’s Child to 48 more stores across the UK from March, bringing the total number of M&S stores the brand is available in to 60. As well as welcoming the brand back to popular locations including Trafford Manchester, the pop-up shops will…
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