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 -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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7 August
M&Co owner acquires Evans
AK Retail Holdings, the owner of M&Co, has acquired plus size clothing brand Evans for an undisclosed sum. The acquisition includes the brand name along with its intellectual property and stock. The group noted Evans has “long been celebrated for its commitment to providing fashionable and high-quality clothing for plus…
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4 August
Pentland Brands to axe almost 100 roles
Pentland Brands has announced that it will cut almost 100 jobs at JD Sports, The Times has reported. This comes as the billionaire Rubin family, which owns a majority stake in the sports retailer, has hired consultants from McKinsey to advise on a new strategy for Pentland Brands, which also…
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4 August
M&S to refurbish Newcastle store as part of £13m investment
M&S has announced its plans to revamp its Newcastle city centre store following a £13m investment in its North East store estate for the year ahead. The Northumberland Street store will include a fresh-market style food hall which is expected to be complete later this year and a new, refreshed…
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