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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Jul- 2023 -13 July
Uniqlo owner on track to deliver 25% rise in Q3 profits
Fast Retailing, the parent company of Uniqlo, expects to deliver an increase of 25% in profits in the third quarter, following strong growth across all of its markets. Meanwhile, the group raised its full-year financial guidance in April from £2.1bn to £2.2bn after experiencing strong half-year growth in Europe and…
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12 July
Hotter Shoes seeks funding to avoid administration
Clothing company Unbound Group, the owner of Hotter Shoes, is reportedly looking to secure £2m in emergency funding in an attempt to avoid falling into administration, according to Sky News. On 27 June in a stock exchange announcement Unbound Group said it had terminated a formal sale process for the…
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12 July
N Brown launches new Jacamo website
N Brown has launched a new trading website for Jacamo, the group’s leading inclusive menswear brand. The launch follows the successful implementation of a new trading website for Simply Be in September, and is another “important step” in the group’s digital transformation journey. The retail group said the platform will…
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12 July
Frasers ups stakes in Currys to 11.1%
Mike Ashley’s Frasers Group has announced that it has upped its stake in Curry’s to 11.1%. The news comes after Frasers increased its stake in the business to 10.4% last week and Curry’s chief executive revealed that the group was in talks about a possible partnership with Frasers. In an…
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12 July
Zara owner accelerates sustainability goals
Inditex, the fashion group that owns Zara, Bershka and Stradivarius, has announced at its annual general meeting that it plans to cut emissions along its value chain by 50% in 2030 to reach net zero emissions by 2040. This comes as CEO Óscar García Maceiras announced the group’s new sustainability…
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11 July
Sosandar welcomes first full year of profitability
Sosandar has welcomed its first full year of profitability in FY23, in what was a “milestone year” for the group, as profits swung to £1.6m, up from a loss of £0.6m the prior year. Despite challenging macroeconomic conditions over the period, revenues also increased, with sales rising 44% to £42.5m,…
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10 July
Boohoo to contact market regulator amid ongoing Revolution battle
Boohoo is reportedly drafting a letter to the junior stock market regulator over plans to requisition an upcoming Revolution Beauty EGM amid the escalating row between the two companies. According to Sky News, the retailer will contact AIM regulatory authorities to demand that Revolution clarifies an earlier stock exchange announcement…
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6 July
Clarks names Under Armour’s Bob Neville as new UK & ROI MD
Clarks, the British shoe brand, has appointed Bob Neville as its new managing director for the United Kingdom and Republic of Ireland, effective from August 2023. Neville returns to the UK from Hong Kong, where he has been based for 30 years, leading teams with some of the world’s largest…
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5 July
Mango invests in virtual avatar creation platform
Mango has announced it is investing in Union Avatars, a digital identity platform that creates virtual avatars in different styles, including hyper-realistic avatars. The fashion company will offer financial support to the start-up through a convertible participation loan, and Union Avatars will join Mango StartUp Studio, the company’s start-up accelerator…
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Jun- 2023 -30 June
Nike revenues up 10% to $51bn in FY23
Nike has reported a 10% rise in revenues year-on-year to $51.2bn (£40.62bn) and a 16% rise on a currency-neutral basis for the 12 months to 31 May 2023. Its revenues for the Nike Brand were $48.8bn (£38.66bn) in the period, up 10% on a reported basis and up 16% on…
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