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 -1 August
Skechers reports record revenues in Q2
Footwear retailer Skechers has reported record quarterly sales of $2.01bn (£1.56bn), a YOY increase of 7.7%. For the 12 weeks ended 30 June, it saw sales increase 17.9% internationally and a 4.6% decrease domestically. Direct-to-consumer increased 29.1% and Wholesale decreased 5.9%. On a constant currency basis, sales increased 9.1%. Wholesale…
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1 August
L Catterton eyes $8bn Birkenstock IPO
Private equity owner L Catterton is reportedly considering launching an initial public offering of German sandal retailer Birkenstock as soon as September, according to Financial Times. People familiar with the matter told the FT that L Catterton, who acquired a majority stake in Birkenstock in 2021, wants to value Birkenstock…
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Jul- 2023 -31 July
Prada H1 net revenues up 22%
Prada has announced that its net revenues for the six months ended 30 June were €2.23bn (£1.92bn), up 22% compared with the same period last year. Alongside this the company posted an EBIT of €491m (£421m), an increase of 22% from the €304m (£261m) it posted last year. The company’s…
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31 July
Adidas to sell second batch of Yeezys in August
Adidas has announced a further release of the sale of a second batch of unsold Yeezy trainers in phases throughout the month of August across the world. Since terminating the Yeezy partnership in October, Adidas has been exploring multiple scenarios for the potential use of the existing Yeezy inventory. In…
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28 July
Gap appoints new CEO
Apparel company Gap Inc. has announced the appointment of Richard Dickson as the company’s president and chief executive officer, effective 22 August, 2023. Dickson will join Gap Inc. from his most recent role as president and chief operating officer of Mattel, where he was a lead architect in a global…
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27 July
Authentic Brands acquires Rockport
Authentic Brands Group has acquired footwear brand Rockport, following the United States Bankruptcy Court for the District of Delaware approving the sale. According to the group, the addition of Rockport expands its footwear portfolio with a trusted brand that is “committed to comfort and technical product innovation”. Rockport has long…
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26 July
H&M sues Shein over copyright infringement
H&M is reportedly suing fast-fashion company Shein for copyright infringement in Hong Kong, according to Bloomberg News. Reports said that H&M first accused Shein of copying dozens of its designs back in 2021. Shein Group Ltd and Zoetop Business Co, a Hong Kong-based entity that previously owned Shein, are among…
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25 July
Superdry to close eight UK stores
Fashion retailer Superdry has confirmed that it is closing eight of its franchise stores in the UK, according to Drapers. The business has already shut down sites in Stoke On Trent, Ipswich, Luton, Telford, Lincoln and Bury St Edmunds. All eight stores are operated by franchise partner Aldrich Group, which…
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24 July
Matalan expects profits to improve despite drop in revenues
Matalan has revealed it expects its FY24 EBITDA of £60m-£65m, up from £30.6m in FY23, despite seeing its revenues fall in the 13 weeks to 27 May 2023 fall 8% to £263.6m. The retailer also revealed that its revenues improved to £122.5m, up from £116.1m, in the five weeks to…
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24 July
Adidas receives $565m in orders for first batch of unsold Yeezys
Adidas has sold around 4 million Yeezy shoes for $565m ( £440.7m) in an online sale after serving ties with Kanye West, according to the Financial Times. The news comes after the German group terminated its agreement with Kanye West in October after the rapper and fashion designer made antisemitic…
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