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 -8 March
Frasers Group puts Matches into administration
Frasers Group has announced that it has put Matches into administration just two months after acquiring the business. Frasers stated that the decision had been taken after Matches consistently missed its business plan targets and made material losses outside of funding from Frasers. It is unclear whether Frasers is looking…
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8 March
Abercrombie and Fitch sales hit $4.3bn in FY23
Abercrombie and Fitch has reported net sales of $4.3bn (£3.4bn) for the full-year ending 3 February, up 16% as compared to last year. Throughout the year, Abercrombie brands finished with a 27% net sales growth to $2.2bn (£1.7bn) compared to $1.7bn (£1.3bn) in 2022, reflecting a 10% compound annual growth…
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8 March
Foot Locker net losses widen to £300m in Q4
Foot Locker has reported a net loss of $389m (£304.8m) for the fourth quarter ended 3 February 2024, one year into the footwear and clothing retailer’s turnaround strategy. The loss comes after the group reported a net income of $19m (£14m) in the previous year’s Q4, which was caused by…
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8 March
Superdry appoints restructuring firm to explore cost-saving options
Superdry has drafted in advisers from restructuring firm Teneo in a bid to explore cost-saving options, Drapers has reported. The retailer has reportedly been working with the firm on a turnaround plan over the past few weeks. Drapers said Superdry was considering various cost-saving measures, including a potential company voluntary arrangement…
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7 March
Charity Super.Mkt to open debut outlet store at Gloucester Quays
Charity Super.Mkt, the UK’s first-ever multi-charity shop, is set to open its next pop-up at urban outlet Gloucester Quays. The 4,000 sq ft store will launch at the outlet on 14 March, introducing its ‘second-hand department store’ concept to an entrance off High Orchard Street. Charity Super.Mkt will bring together…
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7 March
Shein UK breaches company law by failing to disclose PSC
Shein’s UK arm has reportedly failed to disclose its ultimate ownership, breaching company law that could disrupt its reported plans to list in the UK, According to The Guardian. The publication said it was found that Shein Distribution UK Ltd’s filing with Companies House listed Roadget Business Pte Ltd, which…
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7 March
Asos plans India expansion with Reliance Retail partnership
Asos is said to be in talks with Indian retail company Reliance Retail to bring the British brand to the Indian market, according to Retail Week. Reports have indicated that although an agreement has not yet been reached, conversations between the two parties have “been on for a while”. It…
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5 March
Arc’teryx opens flagship in Covent Garden
Arc’teryx, the high-performance outdoor apparel brand, has now opened its new flagship store within the newly refurbished listed building at 41-42 King Street in Covent Garden. This follows previous success on Long Acre and represents a milestone within the brand’s brick-and-mortar journey. Arc’teryx’s new flagship store spans 8,000 sq ft…
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4 March
White Stuff and Sisters and Seekers open at Liverpool One
Liverpool One has announced the signings of two new retail additions, White Stuff and Sisters and Seekers, as the destination continues to be the location of choice for many retailers. British lifestyle brand, White Stuff, has officially launched its regional flagship store on Liverpool One’s Peter’s Lane. The new 1,800…
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4 March
Retail records fifth consecutive month of negative sales, BDO finds
Total in-store and online sales have dropped -1.3% in February, marking the fifth consecutive month of negative sales results, according to new data from BDO’s High Street Sales Tracker. BDO’s data, which looks at sales across discretionary spend categories, showed that despite online sales growing by +2.9% compared with last…
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