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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Nov- 2023 -9 November
Under Armour lowers full-year revenue forecast as Q2 sales flatten
Under Armour has lowered its full-year revenue forecast as its revenues stagnated in Q2. In the three months to 30 September its revenues dropped 1% to $1.6bn (£1.3bn). Wholesale revenues also fell 1% to $940m (£765m). As such, Under Armour stated that it now expects full-year revenues to be down…
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8 November
JD Sports faces questioning over ex-CEO’s non-compete deal
JD Sports is reportedly facing questioning over a multimillion-pound non-compete deal signed by former CEO Peter Cowgill, The Telegraph has reported. It comes amid speculation over Cowgill’s exit package with the group after he became a significant shareholder in a sports equipment maker. Under a non-compete deal signed in September…
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7 November
Primark sales jump 15% to £9bn
Primark owner Associated British Food (ABF) has revealed that Primark sales rose 17% to over £9bn, for the year ended 16 September 2023. Despite this, the company saw its adjusted operating profit drop 3% to £735m and its adjusted operating margin drop to 8.2%. The company put this down to…
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7 November
Shein eyes Topshop move
Fast fashion brand Shein has reportedly formally registered its interest in making an offer for Topshop, The Times has reported. The news comes right after the company acquired Missguided and its intellectual property rights from Frasers Group last week for an undisclosed amount. Topshop was acquired by Asos for £330m…
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6 November
White Stuff profits and sales soar
Fashion retailer White Stuff has revealed that its EBITDA rose 141% to £7m, up from £2.9m, for the year ended 29th April 2023. Alongside this, the company’s total sales rose 13.3% up to £151.4m which was an increase of £17.8m. The company posted retail sales of £73.9m, up 18.1%, online…
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2 November
Asos to mothball Lichfield warehouse amid falling profits
Asos is planning to mothball its second UK fulfilment centre in Lichfield next year, as part of efforts to cut costs after the group revealed losses widened in its latest full-year results. In its latest financial results, Asos said that mothballing the site will provide an annual cost saving of…
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2 November
Profits and revenues surge at Kurt Geiger
British accessories brand Kurt Geiger has reported a 49% increase in EBITDA to £30m and a 31% increase in revenues to £329.5m for the 12 months ended 28 January 2023. As the brand celebrates its 60th anniversary, it attributed the growth in sales and profits to its continued expansion in…
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1 November
Next lifts FY profit guidance despite autumn sales drop
Next has raised its full-year profit guidance for the fourth time this year, despite weekly sales falling by 7% in September due to the unusually warm weather. However, the retailer’s recent Q3 results showed that sales bounced back once colder weather came in last month, increasing by 16% and 11%…
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1 November
Secret Sales expands into Ireland
Secret Sales, a marketplace for off-price retail in fashion, sportswear and beauty, has announced its expansion into Ireland. According to Secret Sales, the platform’s new market launch opens the door for brands and retailers to expand their off-price strategy to reach a potential 3.4 million Irish online consumers. The platform…
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Oct- 2023 -31 October
Footasylum furthers expansion with new Birmingham and Watford stores
Footasylum has continued its expansion with the opening of two new stores, having opened a new site in the Bullring in Birmingham, and one in the atria shopping centre in Watford. Following these openings, the group said an upsized store in Fosse Park Leicester will also be opening next month. …
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