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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Dec- 2023 -6 December
Farfetch considers Browns sale amid funding crisis
Farfetch is reportedly considering selling fashion retailer Browns as it faces a race against time to secure the future of the company, according to Drapers. This follows reports that the company is considering taking itself private to prevent its collapse. Founder José Neves is reportedly in discussion with shareholders and…
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6 December
Matches seeks cash to fund turnaround plan
Matches Fashion has reportedly hired an advisory firm as it seeks a cash injection to help fund its turnaround strategy, according to Drapers. The outlet reported that Matches has hired Teneo to explore funding options as it seeks around £50m with it citing a source that “all options are on…
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5 December
Marks and Spencer extends Christmas trading hours
Marks and Spencer has announced that it has extended its Christmas trading hours from 18-22 December with more than 400 stores open from 6am until 10pm. Additionally, a number of stores will also be open until 10pm on 23 December and 4pm on Christmas Eve for last minute Christmas shoppers.…
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5 December
Quiz launches strategic review after £1.5m loss
Quiz has announced that it has launched a strategic review after it posted a pre-tax loss of £1.5m for the six months ended 30 September 2023. This loss comes after the company posted a profit of £1.8m in the same period last year, with the retailer putting this drop down…
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Nov- 2023 -30 November
Clarks appoints Clarke Willmott to support national portfolio
Clarks has appointed law firm Clarke Willmott to its panel of legal advisors to support the management of the national retail portfolio and legal matters throughout England and Wales. Clarke Willmott will be advising on property issues for the business that designs, manufactures, and sells more than 40 million pairs…
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30 November
Dr Martens issues profit warning amid challenging US backdrop
Dr Martens has issued a profit warning due to challenging headwinds in the US. The British footwear brand’s profit before tax fell 55% to £25.8m for the six months ending 30 September. The group also reported that its EBITDA fell 13% and revenues declined 5% from £418.6m to £395.8m primarily…
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29 November
Canada Goose acquires knitwear manufacturer Paola Confectii
Canada Goose has recently announced the acquisition of the operating assets of Paola Confectii Manufacturing for an undisclosed sum. Building upon its existing network of seven facilities across Canada, the acquisition marks the company’s first European facility, and supports its strategic growth plan, specifically expanding existing categories and increasing year-round…
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27 November
Asos ditches diversity goals in bonus scheme
Asos leadership team will reportedly no longer need to hit diversity targets as part of the criteria to achieve annual bonuses, according to The Telegraph. The outlet revealed that Asos has decided to prioritise financial targets as the embattled online retailer focuses on improving its share price and profit margins. …
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22 November
Urban Outfitters owner hits ‘record’ $1.28bn in Q3 sales
Urbn, the parent company of Urban Outfitters, Free People and Anthropologie, revealed it experienced “record” sales of $1.28bn (£1.02bn) during the third quarter of the year, ending 31 October. This comes despite sales at Urban Outfitters dropping 14.2% during the period. The group also experienced a 3.6% drop in wholesale…
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21 November
Iconix acquires streetwear brand Hoodrich
Brand management company Iconix International Inc. has acquired majority ownership of British streetwear brand, Hoodrich, in partnership with founder Jay Williams, who will retain an ownership interest. The deal, for an undisclosed sum, is based on a “shared vision” that the brand is poised to accelerate its already rapid growth…
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