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 -18 October
Kurt Geiger owner eyes £400m sale
The private equity backers of Kurt Geiger are reportedly considering a £400m sale of the brand. According to Sky News, Cinven, which has owned the footwear company since 2015, is now working with advisors at Bank of America on a prospective auction. Sources told Sky that a sale process was…
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18 October
Sosander to open first physical stores in 2024
UK fashion brand Sosandar is set to launch its first set of bricks and mortar stores in Spring 2024 after seeing continued growth in the market. The brand stated that the opening of the new stores will open up 60% of the £55bn annual clothing market in the UK that…
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17 October
Fred Perry reports record year as profits surge
British heritage brand Fred Perry has reported a “record year” as its profit before tax increased by 34% to £15.6m for the 12 months to 31 December 2022. Its revenues also increased by 20.8% year on year to £135.7m. Fred Perry said that 2022 saw a more stable year after…
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17 October
Shoe Zone revenues rise 6.1% in FY23 despite store closures
Shoe Zone group revenues rose by 6.1% to £165.7m in the year ended 30 September, despite the retailer trading out of 37 less stores than in FY22. The group attributed the increase to strong H2 trading, particularly in peak summer and its key back to school period. As a result,…
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16 October
Ted Baker owner steps in to ease financing trouble
Ted Baker owner Authentic Brands has stepped in after the company it appointed to run its UK operations has struggled to raise financing, according to reports from The Times. Authentic Brands paid £211m last year for the brand and intellectual property of Ted Baker and appointed retail management company AARC…
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16 October
Frasers ups stake in Boohoo to 15.1%
Mike Ashley’s Frasers Group has upped its stake in Boohoo to 15.1% as it continues investing in a number of UK fashion retailers. The news comes after Frasers increased its holding from 10.4% to 13.4% last week. It now holds 191,808,425 voting rights in the company. The group had previously…
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12 October
Uniqlo owner revenues rise 20.2% in FY23
Uniqlo’s parent company, Fast Retailing, has revealed a 20.2% rise in year-on-year revenues to ¥2.7tn (£15bn) for the year ended 31 August, as the group’s international division surpassed 50% of total revenues for the first time. Fast Retailing also reported that operating profits reached ¥381bn (£2.1bn), which shows a rise…
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12 October
N Brown profit before tax falls 97%
N Brown has announced that its profit before tax fell 97% from £4.3m to £0.1m for the 26 weeks ended 2 September 2023. Furthermore, the group’s revenue contracted 10.4% to £297m for H1 24 compared with £331.5m in the same period last year. The company put this fall down to…
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11 October
Jigsaw sales and profits leap in FY22
Jigsaw experienced a 28.6% rise in EBITDA to £3.6m and an operating profit of £1.9m for the year ended 28 January, following the popularity of tailoring and dresses to boost sales. The fashion retailer’s EBITDA and operating profit increased from £2.8m and £1.2m respectively in the previous year. The retailer…
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11 October
LVMH sees revenues rise to €19.96bn in Q3
Luxury goods group Moët Hennessy Louis Vuitton (LVMH) has posted reported revenues of €19.96bn (£17.25bn), up 9% year on year, in the three months ending on September 30. On a nine-month basis it also saw revenues jump 10% to €62.2bn (£53.7bn). All business groups reported sustained organic revenue growth over…
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