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 -10 May
Hugo Boss targets younger customers with new denim brand
Following its brand refresh last year, Hugo Boss is launching a new denim brand in a bid to attract younger customers. The group will expand its portfolio with Hugo Blue, a new line under the Hugo Boss brand that will be exclusively dedicated to denim. It is set to launch…
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10 May
Charles Tyrwhitt to roll out green asset control tech
Menswear brand Charles Tyrwhitt has invested in green asset control technology provided by LoweConex in order to reduce energy consumption and minimise its carbon footprint. LoweConex, which provides IoT energy management solutions, will be rolled out across the retailer’s estate to help hit its sustainability targets. This will see the…
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9 May
Regulator to investigate Joules auditor Deloitte
The Financial Reporting Council (FRC) has launched an investigation in relation to Deloitte’s audit of clothing retailer Joules. The investigation will examine Deloitte’s audit of the group’s consolidated financial statements for the year ended 30 May 2021. The retailer fell into administration last year, appointing administrators from Interpath Advisory to…
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9 May
JD Sports set to acquire Courir for £452.6m
JD Sports has announced that it has entered into exclusive talks to acquire French retailer Courir in a £452.6m deal. The company stated it will pay £282.7m for the company through existing cash resources and £169.6m through debt. In accordance with French law, Courir’s management will now start a consultation…
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9 May
Retail sales rise 5.1% in April
Total retail sales increased by 5.1% in April 2023, against a decline of 0.3% in the same month last year, according to the BRC-KPMG Retail Sales Monitor. This is in line with the three-month average growth of 5.1% and above the 12-month average growth of 3.0%. Like-for-like retail sales increased…
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5 May
Moss Bros FY profits double amid post-pandemic events boom
Moss Bros has seen its EBITDA more than double in its latest full-year results, rocketing 112% to £36m, up from £17m the prior year. Sales soared by 63% to £151m in the period, up from £93.1m the prior year, as business was boosted by the return of weddings, black tie…
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5 May
Boohoo settles £156m court case over fake discounting claims
Boohoo has settled a $197m (£156m) court case in the US after the online retailer was accused of faking discounts on its US websites. The company, which owns PrettyLittleThing, NastyGal and boohooMAN, allegedly marked down and discounted inflated prices, listing items at a reduced price despite them rarely being sold…
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5 May
Kontoor Brands sales dip 2% to $667m
Kontoor Brands has reported a decline in sales of 2% to $667m ( £528m) during the first quarter ended 1 April 2023. The maker of Lee and Wrangler denim brands said that while revenue increases were made in domestic wholesale and DTC, the company’s international wholesale market suffered, thanks to…
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4 May
Hugo Boss reports sales up 25% to €968m
Hugo Boss has reported that its sales increased 25% to €968m (£850.8m) during the first quarter of the year, compared with €772m (£678.5m) in Q1 2022. The German retailer attributed the year’s strong results to its ‘Claim 5’ strategy’s “consistent implementation”, which gave the business “considerable momentum throughout the quarter.”…
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4 May
Next maintains guidance despite better than expected sales
Next has maintained its profit guidance for the full-year despite seeing better than expected sales figures for the first quarter. The company stated that its profit before tax is forecast to be £795m and earnings per share is expected to be 501.9p. Full price sales dropped 0.7% for the 13…
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