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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Jan- 2023 -9 January
Stitch Fix cuts workforce as CEO exits
Stitch Fix, an online personal styling service, has announced it will reduce the size of its workforce by around 20%, alongside news that its current CEO, Elizabeth Spaulding, is stepping down from the group. As well as reducing its workforce, the group also announced plans to close its Salt Lake…
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4 January
Victoria’s Secret acquires Adore Me
Victoria’s Secret has announced that it has completed the acquisition of Adore Me, a digitally-native intimates brand. According to the retailer, Adore Me will serve as an important long-term growth vehicle for Victoria’s Secret and will generate an estimated $250m (£207.2m) of profitable sales going off its most recently completed…
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Dec- 2022 -22 December
Under Armour appoints new CEO
Sportswear brand Under Armour has announced the appointment of Stephanie Linnartz as its CEO and president. Linnartz is currently the president of Marriott International where she is responsible for a portfolio of nearly 8,200 properties across 138 countries. She is also a member of Home Depot’s board of directors, and…
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21 December
Paul Smith halves operating loss as FY sales surge 35%
Fashion retailer Paul Smith has almost halved its operating loss from £16.16m to £8.25m for the year ended 30 June, as its retail sales surged 35% to £97.1m. The group attributed the increase to an increase in footfall as its stores remained open and were unaffected by covid restrictions that…
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21 December
Nike Q2 revenues surge 17% to $13.3bn
Nike saw its revenues reach $13.3bn (£10.9bn) during the second quarter ended 30 November 2022, which is an increase of 17% compared to the prior year and an increase of 27% on a currency-neutral basis. In addition, the sportswear giant’s direct sales increased by 16%, reaching $5.4bn (£4.4bn), while its…
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20 December
Flannels joins rental market with Hurr partnership
Flannels has announced the launch of its new rental strategy, in partnership with rental platform Hurr. It has revealed that customers will be able to rent out items for a period of 4, 8, 10 and 20 days directly from its online store. This will be followed by the launch…
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20 December
Is Back to School behind ShoeZones’ newly-found popularity?
ShoeZone has recently come out with the news that its revenue increased by 31.2% to £156.2m from £119.1m last year, spelling a return to profitability that may indicate how much consumer spending habits have swung towards savvy penny-pinching in ‘Back to School’ season. A survey by Toluna from 5 September…
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20 December
Next sales ahead of expectations in Q3
Next has announced that sales were 0.4% higher than last year in the 13 weeks to 29 October, which is said to be “slightly ahead” of the fashion retailer’s expectations. It is reported that the group’ full price sales in the last five weeks experienced an increase of 1.4%, in…
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19 December
Frasers acquires JD Sports’ premium fashion businesses
Frasers Group has announced the acquisition of JD Sports’ premium fashion offering in a deal worth up to £47.5m. The deal will see it acquire its rival interests in 15 fashion brands including Base Childrenswear, Choice, Clothingsites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty…
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15 December
Asos appoints new non-executive director
Online retailer Asos has announced the appointment of Wei Gao as a non-executive director. Gao was previously COO at Hopin and brings over 16 years of ecommerce and data experience. He held senior roles at Amazon, including roles as vice president for Grocery Tech, Product and Supply Chain, and as…
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