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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Aug- 2023 -10 August
M&S appoints all-women managers to run new M&S stores
M&S has appointed an all-women team of six managers to lead the openings of five brand-new M&S stores this year. Between them, the all-female team has more than 115 years of retail experience and will lead a combined team of over 1,000 colleagues. The appointments follow the launch of M&S…
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10 August
Farfetch to cut headcount amid restructure
Farfetch is reportedly making redundancies across both its London and New York teams amid a restructuring of the group, Drapers has reported. According to Drapers, the move has impacted an estimated 10 people from its London-based marketing team, as well as some workers in its New York-based tech team. In…
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9 August
Manchester martial arts clothing firm expands as sales double
* The Trafford Park firm, which specialises in stylish jiu jitsu sportswear kit, is global hit – shipping to more than 75 countries; * Brazilian jiu jitsu is the world’s fastest growing martial art and celebrity fans include billionaire tycoons Elon Musk and Mark Zuckerberg and movie stars Tom Hardy…
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9 August
Hirestreet launches first ever shoe rental collection with Schuh
UK rental platform Hirestreet has launched its first ever shoe rental offering as part of a new partnership with footwear retailer Schuh. It comes as Hirestreet said it is experiencing a record Summer for occasion wear rental, leading to a 300% increase in site traffic vs Summer 2022. In July…
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9 August
Allbirds revenues drop 10% in Q2
Footwear group Allbirds has revealed that revenues fell by 9.8% to $70.5m (£55.3m) in the second quarter of the year, as it reported a net loss of $28.9m (£22.7m). The group attributed these results to a fall in the average selling price, driven by promotional activity over the period, as…
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9 August
JD Sports to become sole owner of MIG
JD Sports has announced that it has acquired the remaining 40% minority stake of Marketing Investment Group S.A. (MIG) from its minority shareholders. The news comes after JD acquired a 60% stake in Poland-based MIG in April 2021, and since then has established the JD fascia in five countries across…
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8 August
Frasers ups stake in Asos to nearly 17%
Mike Ashley’s Frasers Group has announced that it has once again upped its stake in Asos to nearly 17%. The news comes after the group upped its stake in the online retail company to over 10% in June. Additionally, Frasers also acquired 7.8% stake in Boohoo last month. Prior to…
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8 August
Superdry agrees £25m secondary lending facility
Superdry has announced that it has agreed a deal with Hilco Capital Limited for a secondary lending facility worth £25m. The facility with Hilco is a 12 month term with the option to extend and is at an interest rate of 10.5% plus the Bank of England base rate on…
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8 August
Pretty Little Thing co-founder acquires 3% stake in Boohoo
Umar Kamani, the co-founder of Pretty Little Thing, has bought a 3% stake in Boohoo, according to a recent filing on the London Stock Exchange. Earlier this year, Kamani revealed he would be stepping down as CEO of Pretty Little Thing, which was acquired by Boohoo in May 2020. Kamani,…
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7 August
All Saints reports ‘record’ sales of £457m in FY23
All Saints has reported “record” sales and profit performance as it saw its total revenues increase 36% to £457.0m for the year-ended 28 January 2023. It said that its product development, ecommerce excellence, a growing global store network, and rigorous inventory management helped to deliver “best-ever” performance. Its operating profit…
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