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 -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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26 January
Inditex to double number of disabled employees
Zara owner Inditex has announced plans to double its number of disabled employees within the next two years. The company said it was committed to “boosting the inclusion of people with differing abilities” across its network, aiming to hire over 1,500 professionals. Inditex is targeting having over 2% of its…
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25 January
Footfall improves throughout 2022 but remains 14% behind 2019
UK footfall improved throughout 2022, but there still remains a “significant” 14.2% gap to pre-pandemic 2019 levels, according to Springboard’s annual retail review for 2022. However, the figure does mark “a steady improvement”, from -20.8% below 2019 in January 2022 to -10.9% in December 2022. The uplift from 2021, however,…
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25 January
Arcadia pension deal nears completion
Trustees of the Arcadia Group pension scheme may be close to securing a funding deal backed by one of the UK”s biggest insurers, Aviva, Sky News has reported. A binding deal would guarantee their incomes following the collapse of the group, which owned brands such as Topshop and Dorothy Perkins…
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