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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Mar- 2023 -15 March
M&S rolls out Nobody’s Child pop-ups across 30 stores
Marks and Spencer is set to roll out fashion brand Nobody’s Child to 30 stores across the UK from March to August. The 400ft seasonal pop-ups will offer a 30-piece capsule collection of Nobody’s Child’s signature midi and mini dresses, as well as a range of skirts, tops and jumpsuits…
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14 March
Fred Perry revenues up 10.4% in FY21
British sportswear brand Fred Perry has revealed that its revenues rose by 10.4% to £112.m in its full-year results, while pre-tax profit totalled £11.7m, increasing from the £7m reported the prior year, despite the effects imposed by the pandemic. The retailer, which is mainly known for its polo shirts, has…
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13 March
Superdry appoints advisers to help cut costs
Superdry has appointed Interpath Advisory to help it cut costs after a number of profit warnings, according to reports from Sky News. Interpath is expected to focus on Superdry’s cost base and industry experts told Sky that this could cause a number of job losses. The company will also likely…
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13 March
Allbirds hires new chief financial officer
Allbirds has appointed Annie Mitchell, as chief financial officer, effective April 24, 2023. She will replace Mike Bufano, who will be stepping down from Allbirds but will remain with the company through to mid-May to ensure a “smooth transition”. Mitchell is an experienced finance executive in the retail industry and…
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10 March
Boohoo narrowly approves new growth plan
Boohoo has experienced pushback from shareholders over its plans to award executives £175m if its share price improves, despite the scheme’s narrow approval at its general meeting on 8 March. The fast fashion retailer’s growth plan saw 37% of the group’s shareholders voting to reject the plan. As a majority…
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10 March
Prada reports profits rise 21% to €4.2bn for FY22
Prada Group has reported that its 2022 revenues increased to €4.2bn (£3.7bn), marking a 21.3% rise over 2021, according to its financial for the period ending 31 December 2022. It said that retail sales, which increased 23.8% to €3.7bn (£3.27bn), was the primary driver, as well as organic expansion at…
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10 March
Mango welcomes record turnover of €2.7bn in FY22
Mango has welcomed record sales in 2022, with turnover reaching €2.7bn (£2.4bn), the highest in the company’s history and 20.3% higher than the prior year. This was also 13.2% higher than 2019, when the company last achieved a record turnover. As well as a major growth in sales the group…
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9 March
Hugo Boss welcomes record sales in FY22
Hugo Boss sales increased 27% to a new record of €3.7bn (£3.2bn), according to the latest 2022 report released today. These recent figures mean that for the first time in the history of the fashion brand, the company exceeded the €3bn threshold (£2.6bn) despite the high levels of economic implications…
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9 March
Adidas profits fall 1% to £9.45bn amid Yeezy split
Adidas has reported that its FY gross profit declined 1% to £9.45bn, down from the £9.54bn it made in 2021, according to its financial for the period ending 31 December 2022. The company stated that its revenue was impacted by the termination of Yeezy partnership with Kanye West. Adidas’ EBITDA…
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7 March
Zalando’s customer base surpasses 50 million
Zalando, European fashion and lifestyle retailer, has announced that its customer base grew 6% more than 51 million last year because of the success of its loyalty programme. According to its financial results for FY22, Zalando’s loyalty programme, Plus, more than doubled its membership to over two million compared with…
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