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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Sep- 2023 -12 September
Primark owner ups guidance after 15% sales surge
Primark owner Associated British Foods (ABF) has raised its profit guidance after seeing better than expected results. The company now expects an adjusted operating profit “slightly better” than its previous expectation of “moderately ahead” of its £1.4bn profit last year. It also expects Primark sales to be around £9bn for…
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11 September
Zalando appoints new VP of sustainability and D&I
Zalando has appointed textile and apparel industry expert Pascal Brun as its new vice president of sustainability and diversity and inclusion (D&I), reporting into Padmaja Bommareddy, SVP Corporate Development. Brun joins Zalando from H&M where his experience spanned across different continents and a variety of execution and strategic management roles…
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8 September
Focus Brands to open two Avirex stores amid UK expansion
UK-based sports and streetwear distributor, Focus Brands, will be opening two stores for the US military apparel brand, Avirex, on 15 September amid the brand’s expansion in the UK. The first London site is a pop-up on Soho’s Berwick Street and the second is on Fitzrovia’s Eastcastle Street. The openings…
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8 September
Primark to offer womenswear online as it expands click and collect
Primark is set to offer womenswear online for the first time as it expands its click and collect trial. From 13 September, some 57 trial click and collect stores across Greater London, the North West of England and North Wales will be able to buy a selection of womenswear online.…
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8 September
Dai founder confirms brand to cease trading in December
Dai founder and CEO Joanna Dai has announced the womenswear brand is set to close in early December 2023, after six years of trading. In a LinkedIn post, Dai mentioned that her Autumn/Winter 2023 collection, named the Greatest Hits, will be her last and final collection. The news of the…
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8 September
Ann Summers plans expansion amid strong FY results
Ann Summers has seen its turnover rise by 7.4% to £100.1m in the year ended 25 June 2022, with plans to open more stores following the strong full-year results. In its latest Companies House filings, the group also reported that sales were up by 7.6% against the prior year, and…
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5 September
Intimissimi reopens Bond Street store following refurb
Intimissimi UK has reopened its physical store near Bond Street underground station following a refurbishment. The lingerie store is located in the same central location, but with a “much-improved” look and product offering than before. Mirroring the Intimissimi flagship store, which is located next to the Oxford Circus roundabout, the…
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4 September
New Look to complete £100m debt refinancing
New Look is set to complete a £100m debt refinancing to help the business amid a poor trading environment, Sky News has reported. The high street fashion retailer is reportedly in advanced talks with Blazehill Capital and Wells Fargo to replace a term loan that matures in June 2024. Sky…
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1 September
Superdry falls to £148m loss in FY23
Superdry swung to a loss of £148.1m in the year ended 29 April, down from a profit of £22.4m the prior year. As a result, the retailer has agreed a loan with Bantry Bay Capital for up to £80m this year, and a further £25m with Hilco Capital post year-end. …
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1 September
Lululemon sales rise 18% to $2.2bn in Q2
Athletic wear brand Lululemon has reported an 18% rise in sales to $2.2bn (£1.74bn) in Q2 2023. Gross profit was up 23% to $1.3bn (£1.03bn) and gross margin increased 230 basis points to 58.8%. Additionally, income from operations increased 19% to $479.3m (£378.02m) and adjusted income from operations increased 23%.…
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