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 -3 May
Superdry to raise £12m via share sale
Superdry has announced that it intends to issue 15,700,000 new ordinary shares of 5p each in the capital of the company at 76.3 pence per Ordinary Share to raise gross proceeds of approximately £12m. Co-founder and chief executive Julian Dunkerton, who owns a 25% stake in the business, has agreed…
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2 May
Shop price inflation falls for first time in 2023
Shop price inflation is thought to have peaked in the first week of April, according to the BRC, after it declined to 8.8%, down slightly from 8.9% in March. Despite the fall, it remains at record-highs in some areas, and continued to exceed the three-month average of 8.7%. Meanwhile, food…
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2 May
Superdry in talks for £15m share sale
Superdry has confirmed that it is in talks to raise capital which, according to Sky News, could be worth around £15m. Sky also discovered that the company could unveil a cash call as soon as next week after discussions with City investors. This news follows the announcement last month that…
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Apr- 2023 -28 April
Skechers to acquire Scandinavian distributor
Skechers has announced that it has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding Aps. The Sports Connection business comprises 58 existing Skechers retail locations, several e-commerce solutions as well as over 1,600 wholesale customers. It will become a wholly-owned subsidiary of Skechers, primarily responsible for…
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26 April
New Look axes further head office roles
Four department head roles have reportedly been made redundant at New Look, a month after reports first emerged that 70 head office roles were at risk, according to Drapers. Senior e-commerce trade manager Michelle Dobson, head of accessories, beauty and lifestyle buying Faye Walton, head of IT delivery Pete Mead…
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26 April
Ted Baker CEO to step down after takeover
Ted Baker CEO Rachel Osbourne is set to step down from her position following the takeover by Authentic Brands Group (ABG), according to reports from Sky News. Osborne joined Ted Baker as finance chief in 2019, before being elevated to the top job in March 2020. The news comes as…
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25 April
Authentic Brands Group to acquire Vince IP
Authentic Brands Group (Authentic), has entered into a strategic partnership with Vince Holding Corp. (VNCE) to acquire the Vince brand intellectual property. Through the agreement, VNCE will contribute its intellectual property to a newly formed Authentic subsidiary, ABG Vince, of which Authentic will own a majority stake of 75%, while…
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25 April
JD Sports appoints two new directors to board
JD Sports has appointed Angela Luger and Darren Shapland as its newest non-executive directors, with effect from 1 June 2023. Following their appointments, Luger will join the remuneration committee while Shapland will join the audit and risk committee. Luger brings a “wealth” of retail and non-executive director experience to the…
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24 April
Gymshark profits slip by 38.7% in FY22
Gymshark has revealed that its profits slipped by 38.7% for the year ended 31 July 2022, citing soaring production costs and customers with less disposable income as the reason behind its performance. The news comes as the Birmingham-based athletic clothing retailer, which opened its first brick-and-mortar store on Regent Street,…
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21 April
H&M creates new youth destination with Weekday and Monki merger
H&M has announced plans to create a new youth destination by merging two of its portfolio brands, Weekday and Monki. According to H&M, the merger is aimed towards creating an “exciting, broadened experience, adapted to the young customers’ needs and preferences”. Additionally, it will also bring back its denim label…
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