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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Jun- 2023 -6 June
Pepco profits dip despite revenue surge
Pepco has reported a 6% decrease in profit before tax from €144m (£124m) down to €134m (£115m) during the six months ended 31 March 2023. Despite this the company saw a 22% increase in its revenue from €2.4bn (£2.07bn) to €2.8bn (£2.41bn) on a constant currency basis. The retailer put…
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5 June
Asos faced £1bn takeover bid from Alibaba-backed retailer
Asos reportedly faced a £1bn takeover offer from Turkish online retailer Trendyol in December of last year. According to The Sunday Times, the offer from Trendyol, which is backed by Chinese retail giant Alibaba, valued the retailer between £10 and £12 a share. The outlet added that Trendyol had engaged…
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5 June
Authentic Brands Group acquires IP of Hunter
Authentic Brands Group (Authentic), a global brand development, marketing and entertainment platform, has acquired the intellectual property of footwear brand Hunter. The British heritage brand, best known for its “iconic” Wellington boots, has evolved over the years from a rubber boot to a lifestyle brand, offering an expansive footwear collection,…
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5 June
Frasers Group considers cutting 200 head office jobs
Frasers Group is considering cutting up to 200 jobs at its head offices in Shirebrook and London in a bid to streamline the business. The company owned by Mike Ashley has begun a consultation period which has left 20% of its staff at these offices at risk of redundancy. The…
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2 June
Farfetch announces New Guards Group management changes
Farfetch, the global platform for the luxury fashion industry, has appointed Cristiano Fagnani to the role of CEO of Off-White. He also remains responsible for New Guards Group’s (NGG) Reebok business as CEO of NGG++. Stephanie Phair has also been appointed chair of NGG and NGG CEO, Davide De Giglio,…
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2 June
Lululemon revenues hit $2bn in Q1
Lululemon revenues have increased by 24% to $2bn (£1.6bn) during the first quarter of 2023, as sales increased 17% on a constant dollar basis in North America and leaped 60% internationally. The group’s gross profit also increased 32% to $1.2bn (£0.9bn), while its gross margin rose 57.5% during the period. …
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1 June
Dr Martens profits drop 29% to £128m
Dr Martens has reported that its profit after tax declined 29% to £128m for the year ended 31 March 2023, despite generating revenues of £1bn for the first time. It stated that its profit before tax was down because of higher depreciation and amortisation, a £3.9m impairment charge and a…
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1 June
Cotton Traders hails ‘most successful’ year to date
Fashion retailer Cotton Traders has welcomed its “most successful financial year to date”, announcing it has increased its yearly turnover by 10.6% to £111m. The company has attributed its performance to a 17% year-on-year increase in new customers gravitating to the brand, as well as a 7.5% increase in its…
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May- 2023 -26 May
Asos raises £75m alongside £275m asset based refinancing deal
Asos has announced that it has raised £75m from shareholders as well as landing a lucrative refinancing deal based on its assets. The online retailer has made a deal with Bantry Bay for a £275m asset-based financing facility which runs till April 2026. The company estimates that there will be…
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26 May
Burberry appoints new chief people officer
Burberry has appointed Alexandra McCauley as its new chief people officer. McCauley, who will start in London on 15 November 2023, will be responsible for all aspects of Burberry’s people strategy globally. She will join the executive committee and she will report to Burberry chief executive officer Jonathan Akeroyd. McCauley…
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