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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Feb- 2023 -9 February
VF Corp Q3 revenues down as Vans underperforms
Vans owner VF Corporation has announced a 3% drop in revenue driven by a 13% fall in sales from the footwear brand, for the three months ended 31 December 2022. Vans revenue fell to $927m (£768m) in the quarter and is expected to drop by a high-single-digit percentage rate for…
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8 February
Frasers completes acquisition of five JD Sports fashion brands
Frasers Group has revealed it has completed the acquisition of five premium fashion brands from JD Sports as part of a deal announced in December of last year. The £47.5m deal with its rival already saw Frasers agree to acquire a total of 15 fashion brands, with eight already having…
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7 February
Crew Clothing to open 40 brick-and-mortar stores by 2025
Crew Clothing has plans to open 40 new brick-and-mortar stores by 2025 across market towns and coastal resorts in the UK, according to The Times. The group’s decision to expand its portfolio of in-person stores comes as it recovered post-pandemic, as it revealed that online and store sales both increased…
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3 February
JD to open up to 350 stores per year under new growth plan
JD Sports has announced it is planning to open 250 to 350 new stores per year in underpenetrated markets under a new growth strategy for the group. The group said it has a capex of £500m to £600m per annum with 50% to 60% of spend focused on the store…
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2 February
Superdry boss denies plans to take business private
Superdry founder and CEO Julian Dunkerton has announced that he has no plans to take the company private following media reports it was a possibility. This statement now means that under UK takeover rules Dunkerton cannot make a bid for Superdry for six months unless another offer comes in for…
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Jan- 2023 -30 January
Frasers Group increases N Brown stake
The Frasers Group has increased its shareholding in clothing and footwear retailer N Brown to become its second largest shareholder. The Sports Direct owner has increased its holdings in the company up to 17.88% according to LSE filings. This move makes Frasers the second largest shareholder in the company after…
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30 January
LVMH profits and revenues surge 23%
LVMH Moët Hennessy Louis Vuitton, the luxury goods group, revealed it recorded revenues of €79.2bn (£69.6bn) in 2022 and profits from recurring operations of €21.1bn (£18.5bn), both up 23%. The luxury group said the performance comes as all business groups achieved “significant” organic revenue growth over the year. Its fashion…
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27 January
Superdry lowers FY profit guidance to breakeven
Superdry has revealed it recorded an adjusted loss before tax of £13.6m for the 26-week period ending 29 October 2022, and as such has lowered its FY profit guidance from £10-£20m to breakeven. The clothing retailer owned by Julian Dunkerton said the performance comes from a return to normal rent…
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27 January
H&M net sales increase 12%
H&M has announced that its net sales for FY22 increased 12% to SEK 223bn (£176bn) for the year ended 30 November 2022. The increase was 6% in local currencies. Excluding Russia, Belarus and Ukraine the increase was 15% in SEK and 8% in local currencies. Results for the year were…
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26 January
Levi’s profits fall 9% despite surge in revenues
Levi’s has revealed its gross profit fell 9% to $887m (£716m) for the year 27 November 2022. However, it also reported a 7% year on year increase in revenue to $6.2bn (£5bn) (12% on a constant-currency basis). Net revenue of $1.6bn (£1.29bn) in the fourth quarter represented a 6% year-on-year…
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