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 -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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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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