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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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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31 October
Ugg owner revenues rise by 25% in Q2
The owner of Ugg and sportswear label Hoka, Deckers, saw a 25% year-on-year rise in revenues to $1.09bn (£900m) in Q2 for the period ended 30 September. The group attributed its performance to rising demand for Ugg and Hoka, as sales for the two products jumped 28.1% year-on-year to $610.5m…
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30 October
Shein acquires Missguided brand from Frasers
Shein has acquired the Missguided brand from Frasers Group. Following the move, Missguided products and collections will be made available to Shein’s 150 million global users as an independent brand via Shein sites, as well as on Missguided.com. Shein also confirmed that it has entered into an agreement to licence…
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27 October
Hermes sees revenues jump 16% to €3.3bn
Hermes has recorded a 16% increase in revenues to €3.3bn (£2.87bn) in the three months 30 September 2023. All the geographical areas posted solid performances. European sales reached €2.24bn (£1.95 bn) over the same period last year, up 20.7%. With the exception of Japan, sales throughout Asia also increased by…
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26 October
Vinted considers €200m share sale
Second-hand online marketplace Vinted is considering a secondary share sale of more than €200m (£174m) as it aims to be at the forefront of a sustainable fashion boom, according to the Financial Times. According to the report, Vinted is working with Morgan Stanley to consider options for its capital structure…
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25 October
Frasers Group ups Boohoo stake to 16.5%
Mike Ashley’s Frasers Group has once again increased its stake in online retailer Boohoo and now holds a 16.5% share in the business. It has upped its stake from 15.1% and now holds a total number of voting rights of 209,319,058. Frasers first purchased a 5% stake in the online…
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25 October
Asos delays FY23 full-year results
Asos has announced that it is due to delay the publishing of its FY23 results by one week to 1 November 2023. The company stated that the delay is to allow its auditor, PwC, to complete its planned testing. PwC has assured the Asos board that the outstanding procedures are…
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23 October
JD Sports launches new loyalty app
Sports retailer JD Sports has announced the launch of its JD Status loyalty programme app across its JD stores in the UK. The new app, which already operates in the United States, rewards loyal customers with cashback on purchases of their favourite brands ahead of its peak Christmas shopping period.…
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19 October
Matalan posts resilient Q2 revenues
Matalan has posted revenues of £288.6m for the 13 weeks ended 26 August 2023, an increase of 0.8% compared with the £286.4m it posted in the same period last year. Furthermore the company saw a 16.6% increase in EBITDA to £47.9m up from £36.7m last year, after the adoption of…
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18 October
One in six Black Friday purchases will be returned, data shows
Almost one in every six garments bought on Black Friday will be returned, with Gen Z and Millennials leading the way as the highest returning cohorts, according to the latest data from True Fit, the AI platform that decodes size and fit for consumers and retailers. Original research of over…
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