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 -21 August
Waitrose and John Lewis offers free coffee to police to combat shop thefts
Waitrose and John Lewis is reportedly offering free hot drinks and discounted food to on-duty police officers who visit its stores in a bid to cut shoplifting and violence against staff, according to the Times. The news comes after Waitrose reported that assaults on its employees have roughly “doubled” since…
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18 August
Farfetch profits and sales drop as its brand platform suffers
Farfetch has revealed its revenues decreased to $572.1m (£450.1m) from $579.3m (£455.7m) during Q2 2023, representing a year-over-year decrease of 1.3%, according to its trading update for the second quarter ending June 2023. The group said that the decline was primarily driven by a 42.2% decrease in Brand Platform Revenue…
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18 August
H&M to phase out Myanmar suppliers after labour abuses probe
H&M has announced that it is planning to “gradually phase out” its operations in Myanmar following a report from the Business and Human Rights Resource Centre (BHRRC). The company launched an investigation H&M into 20 alleged instances of labour abuse following the report. The BHRRC tracked 156 cases of alleged…
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17 August
Birkenstock UK profits fall despite jump in revenues
Birkenstock has revealed that its profits fell 12% to £3.9m in the sandal brand’s UK division for the year to 30 September 2022, despite its revenue surging 49% to £34.5m. While the retailer’s wholesale revenues increased 40% from £21.2m to £30m in 2022 – representing 87% of the company’s total…
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16 August
H&M probes Myanmar factory labour abuses
H&M has reportedly launched an investigation into 20 alleged instances of labour abuse at Myanmar garment factories, according to Reuters. This is in relation to a report by the non-governmental organisation, the Business and Human Rights Resource Centre (BHRRC) which is set to be released on Wednesday (16 August). The…
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14 August
Sweaty Betty owner lowers outlook amid Q2 revenue decline
Sweaty Betty owner, Wolverine Worldwide, has lowered its revenue and earnings outlook as it experienced a decline of 17.4% in revenue to $589.1m (£463.8m) in Q2. While revenue from the ongoing business was slightly better, it was still down at $578.2m (£455.2m) – a decline of 13.8% on a constant…
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11 August
Ralph Lauren reaffirms guidance as revenues edge up to $1.5bn
Luxury retailer Ralph Lauren has revealed it expects FY revenues to meet expectations of low single digit growth as its Q1 revenues increased to $1.5bn (£1.18bn), up from $1.49bn (£1.17bn) the same time last year. Its revenue performance was boosted by an 8% increase in Europe to $450m (£354m) and…
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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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