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 -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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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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