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 -4 October
Superdry agrees to sell South Asian IP for £40m
Superdry has announced that it has agreed a deal to sell its South Asian IP to Reliance Brands Holding UK (RBUK) for £40m. RBUK will now majority own the Superdry brand and related trademarks in India, Sri Lanka, and Bangladesh. The deal is a joint venture between the two companies…
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3 October
Next CFO to depart after 28 years
Next has revealed that its CFO, Amanda James, has decided to retire from full-time work after 28 years. The retailer also announced that the CFO of Reiss, Jonathan Blanchard will be her successor. James will be stepping down from the board on 26 July 2024 and is planning to leave…
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3 October
Dr Martens to open 100th EMEA store on Oxford Street
Dr. Martens plc is set to open its 100th EMEA (Europe, Middle East and Africa region) store on London’s Oxford Street. The new location, at 184 – 190 Oxford St, will open on 10 November 2023. Dr Martens stated that the new store, which is near its flagship store in…
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3 October
Boohoo revenues tumble 17% amid weaker than expected demand
Boohoo has seen revenues plunge by 17% to £729.1m in the first half of the year, after a slower than expected recovery in its sales by volume. Over the period, UK revenues were down by 19% while International sales fell by 15%, as the number of orders fell by 18%…
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2 October
Mango Kids turnover exceeds €200m in 2022
Mango’s retail arm for children, Mango Kids, has revealed it grew by 18% in 2022 compared with the previous year, with turnover exceeding €200m (£173m) in the year, including Mango Teen. This comes as, by channels, sales in physical stores in 2022 accounted for 53% of total turnover, while the…
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Sep- 2023 -28 September
People Tree liquidates UK business, owing creditors £8.5m
People Tree is reportedly set to put its UK business into liquidation, owing debts of more than £8.5m to creditors, The Guardian has reported. The debts include money owed to suppliers, customers and the majority of its British workforce. Following a deterioration in its trading performance, the sustainable fashion brand…
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27 September
N Brown bolsters third party brand offering
N Brown Group, the fashion and homeware digital retailer, has introduced a series of new third-party brands across its three strategic brands, “further enhancing its already wide-ranging product offering for customers”. Launched at the beginning of September to Jacamo and JD Williams customers, it has already added FatFace to its…
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27 September
H&M profits surge 61% as cost-saving measures bear fruit
H&M has announced that its profit after tax rose 61% to SEK 7bn (£524m) for the nine months ended 31 August 2023. Furthermore, its gross profit increased to SEK 87bn (£6.5bn) which corresponds to a gross margin of 50.3%. The company’s operating profit increased to SEK 10.2bn (£764m), corresponding to…
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26 September
Frasers opens new Flannels Nottingham store
Frasers Group has opened the doors to its latest Flannels store in Nottingham city centre. Frasers said it continues with the commitment to investing in retail and bringing “world-class” shopping destinations to new locations throughout the UK. Situated on Nottingham’s high street, the 15,000 sq. ft store will house two…
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26 September
Asos cuts guidance amid falling sales
Asos has lowered its full-year guidance after sales fell by 15% in the three months ended 3 September. The group now expects EBIT to be around the bottom of the guided £40m to £60m range, with free cash inflow in H2 now expected to be roughly £60m excluding refinancing costs.…
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