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 -18 May
Nike opens new Unite concept store at Blanchardstown Centre
Nike has announced it has opened a new concept store Nike Unite at Blanchardstown Centre, Dublin. The first store of its kind in Ireland, Nike Unite features an in-store community wall, celebrating Dublin athletes and sporting achievement, as well as local landmarks and partnerships. Signed on a 10-year lease, the…
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18 May
The Works reports sales up 6.1% to £316.6m
The Works has reported that its total sales increased 6.1% to £316.6m in FY23 compared with £298.4m in FY22, against a challenging backdrop, according to its recent trading update for the 52 weeks ended 30 April 2023. Stores, which represented 88.8% of total sales, delivered a like-for-like sales increase of…
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18 May
TK Maxx owner ups full-year guidance as Q1 margins rise
The TJX Companies, the company that owns TK Maxx, has raised its full-year guidance after its first quarter trading was better than expected. In the quarter ended 29 April 2023, sales rose by 3% to $11.8bn (£9.48bn), while net income was $891m (£716m) and diluted earnings per share were $.76…
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17 May
JD Sports profits set to top £1bn
JD Sports has announced that its profits for 2023-24 are expected to top £1bn after posting a profit before tax and adjusted items of £991m for the year ended 28 January 2023. The company believes that its profits for the next full year will fall in line with expectations which…
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17 May
John Lewis offers paid leave to foster carers
The John Lewis Partnership has announced that it will offer additional paid leave to all new foster carers within its businesses (John Lewis and Waitrose) – furthering its commitment to support care experienced people. The retailer stated that it has become the “largest” organisation to receive Fostering Friendly accreditation via…
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16 May
Boohoo profits halve in FY22
Boohoo has seen its profits fall by 49% to £63.3m in 2022, with revenues falling to £1.8bn, down by 11% against last year, though up by 3% on 2020. Over the year, UK revenues were down by 9% against the 2021 but were up by 61% against 2020, which the…
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16 May
ABG closes in on Hunter Boots acquisition
American-based brand management business Authentic Brands Group is reportedly closing in on the acquisition of royal warrant-holding footwear brand Hunter, according to Sky News. Sky News stated that Hunter has listed Authentic as the preferred bidder as a sale process nears a conclusion. It also said that one source suggested…
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15 May
Shein to launch 30 pop-ups around EMEA
Shein has announced plans to host roughly 30 pop-ups around the Europe, Middle East and Africa (EMEA) region this year. The news comes as the global e-retailer of fashion, beauty and lifestyle products officially opened its EMEA headquarters in Dublin city centre, Ireland, which will host its strategic IT hub…
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15 May
Allbirds co-founder steps down as co-CEO
The co-founder of footwear retailer Allbirds has stepped down from his role as co-CEO to instead take up the role of chief innovation officer. Tim Brown, who co-founded the company alongside Joey Zwillinger in 2016, said he will support Zwillinger going forward, as Zwillinger will now act as sole CEO…
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12 May
Prada net revenues jump 22% to €1.06bn
Prada has reported that its net revenues increased 22% to €1.06bn (£928m) YoY despite an uncertain macroeconomic environment, according to its first quarter financial report ended 31 March 2023. It also achieved retail sales of €953m (£830m) in the first quarter of 2023, marking a 23% increase YoY, compared with…
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