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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May- 2023 -25 May
Crew Clothing CEO ousted by group’s owner
Crew Clothing’s CEO has reportedly been ousted by the group’s owner, This is Money has reported, with other senior executives reportedly departing behind him. Sources familiar with the matter said Brigadier Acquisition Company made the decision to oust David Butler earlier this month. His departure is understood to have been…
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25 May
Urban Outfitters owner sees sales hit £900m in Q1
URBN, parent company of Urban Outfitters, Anthropologie and Free People, has seen net sales rise 5.9% to a record $1.11bn (£900m) for the three months ended 30 April. Over the period, the group also reported a net income of $53m (£42.8m) and record earnings share of $0.56 (£0.45). Total retail…
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24 May
VF Corp FY revenues dip as Vans sales fall
VF Corp, the owner of brands such as Vans, The North Face and Timberland, has seen its revenues dip by 2% to $11.6bn (£9.4bn) in FY23 amid a “challenging” consumer environment. North Face performed better than expected however, with sales up by 11% to $3.6bn (£2.9bn) in the full-year period.…
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23 May
Mike Ashley set for Mulberry boardroom showdown
Mike Ashley could be set for a boardroom showdown with the majority shareholder at Mulberry, according to reports from The Telegraph. The outlet reported that Frasers owner Ashely has recently requested a voice in the boardroom at the luxury fashion retailer after senior members at Frasers met Mulberry chairman Chris…
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23 May
Alex Marsh steps down as Klarna UK head
Klarna’s UK head, Alex Marsh, has announced that he is stepping down from the Swedish buy-now-pay-later (BNPL) company. Marsh resigns from his position after four and a half years of service. Marsh joined Klarna as the chief financial officer in 2019 and co-founded non-profit organisation Chaterpath in January 2020. Marsh…
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23 May
Asos launches first ever rental edit with Hirestreet
Asos has launched its first ever rental collection in partnership with UK rental marketplace Hirestreet. Available from today (23 May), the edit includes over 180 styles focused on women’s occasionwear dressing. Selected from Asos’ own brands, Asos Design, Asos Edition and Asos Luxe, the edit features wedding-guest outfits, bridal looks…
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22 May
Foot Locker sees 11.4% drop in sales to $1.9bn
Foot Locker has reported a 11.4% decline in total sales to $1.92bn (£1.5bn) for its first quarter ended 29 April 2023, compared with sales of $2.1bn (£1.6bn) in the first quarter of 2022. Excluding the effect of foreign exchange rate fluctuations, total sales for the first quarter decreased by 10%.…
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19 May
Unbound eyes sale as it seeks additional funding
Hotter Shoes owner Unbound Group has announced that it is looking to offload the company as its board of directors continues to seek additional funds. Unbound has appointed Interpath Advisory as joint financial adviser alongside Singer Capital Markets, its current financial adviser, to manage the formal sale process. The board…
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19 May
A Day’s March opens new London store
Swedish label, A Day’s March, is to open new retail space housed across three storeys in London’s Soho this June. The townhouse is a historic grade-listed building and will showcase the brand’s core collections across menswear and womenswear. Working with Shaftesbury Capital, the 2,700 square feet of retail space is…
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19 May
Lucy & Yak to open four new stores
Lucy and Yak is reportedly set to expand its high street presence through the opening of four new stores this year, according to Drapers. The brand, best known for its overalls and jumpsuits, currently has five stores in Brighton, Norwich, Bristol, Nottingham and Cambridge. It is now looking to further…
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