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 -22 February
Pepco to cease Austrian operations
Pepco Group has announced that it is set to cease its operations in Austria as it does not foresee that the Austrian market will reach the appropriate level of returns expected. The company stated that the exit from the Austrian market will improve the group’s cash flow and underlying profitability…
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22 February
Tomorrow Limited acquires A Cold Wall
Tomorrow Limited, a London-based fashion accelerator, has acquired designer streetwear brand A Cold Wall for an undisclosed sum. A Cold Wall was founded in 2015 by Samuel Ross and Tomorrow Limited made its first minority investment in the label in 2018. While Ross and Stefano Martinetto, co-founder and CEO of…
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22 February
Sports Direct launches Swiss brand On in selected stores
Sports Direct has announced the launch of On across its key stores including flagships in London, Birmingham, Manchester and its brand new Cardiff location, opening on 23 February. On has gained “significant” industry recognition and consumer popularity in recent years for its innovative technology, performance focused products and sustainable initiatives. …
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20 February
Superdry founder in talks with US investor for take private deal
Superdry founder Julian Dunkerton is reportedly in talks with US investor Davidson Kempner as he seeks to put together a deal to take the company private, according to Sky News. The outlet said talks are at a preliminary stage and there is no guarantee that Davidson Kempner will agree to…
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19 February
Mytheresa outperforms market despite falling profits
Luxury clothing retailer Mytheresa has hailed its Q2 performance as it said it “outperformed almost all competitors” despite posting an operating loss of €4.4m (£3.7m). For the second quarter ended 31 December 2024, Mytheresa said it saw solid growth with Net Sales increasing +8.3% on a constant currency basis despite…
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19 February
Nike to cut 1,600 jobs in cost trimming measure
Nike is set to cut 1,600 jobs, around 2% of its workforce, in an attempt to trim its costs after worse than expected sales in the second half of 2023. In an internal email seen by The Wall Street Journal the company stated it would use its resources to increase…
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13 February
Frasers ups stake in N Brown to 20%
Frasers Group has revealed it has increased its stake in fashion retailer N Brown to 20%, according to the latest holding documents filed by the company. The pure play retailer’s brands include Jacamo, Simply Be and JD Williams and was founded in 1859 in Manchester – where its headquarters remain…
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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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