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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Nov- 2022 -21 November
M&S welcomes menswear to ‘brands at M&S’ platform
Marks and Spencer has announced a deal which will bring brands such as Ted Baker, Superdry, Lyle and Scott and Musto to its ‘brands at M&S’ platform. The introduction of these latest third-party brand partners will see the addition of more than 250 menswear products to M&S.com bringing the total…
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21 November
H&M closes one in five UK stores amid sales hit
H&M has closed around one in five of its shops in the UK, according to The Mail on Sunday, as sales have continued to be impacted by changing consumer behaviour. The chain has reportedly closed 56 stores since its peak in the months before the pandemic, leaving only 192 outlets…
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18 November
Primark continues US expansion with NY store
Primark has continued its US expansion with the opening of its first of three new stores in New York. The retailer has opened a new store in Roosevelt Field in Garden City with a further two sites set to open on Jamaica Avenue in Queens, and City Point in Brooklyn…
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17 November
Joules collapses into administration
Joules has officially appointed administrators and is set to be wound up after talks with potential investors collapsed, with up to 1,600 jobs at risk. Will Wright, Ryan Grant and Chris Pole from Interpath Advisory have been appointed joint administrators of Joules Group plc and Joules Limited. At the same…
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17 November
Burberry targets 50% increase in sales with new strategy
Burberry has revealed a new long-term strategy to drive revenue growth and acceleration, which will aim to see the group’s sales of leather goods, shoes and women’s ready-to-wear, as well as outerwear and accessories grow by 50%. According to the luxury fashion label, it plans to convert all of its…
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16 November
Levi Strauss names new CEO and president
Clothing retailer Levi Strauss and Co has announced the appointment of Michelle Gass to the position of president, effective from 2 January 2023 when she is also expected to join the company’s board of directors. The news comes as Levi’s reportedly plans for Gass to succeed Chip Bergh as CEO…
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14 November
Joules to fall into administration, 1,600 jobs at risk
Joules is set to appoint administrators after talks with potential investors collapsed, with up to 1,600 jobs now at risk. Earlier this month, the company announced it was in advanced discussions with a number of strategic investors regarding financing options for the group. It spoke with a number of strategic…
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11 November
Ralph Lauren welcomes ‘better than expected’ Q2
Ralph Lauren has welcomed “better than expected” trading in Q2, as revenues grew by 5% to $1.6bn (£1.36bn) over the period despite macro-economic pressures. The luxury fashion brand delivered “strong” revenue growth in both its Core business, up mid-teens to last year, and high-potential categories, including Women’s, Outerwear and Home,…
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9 November
Allbirds sees Q3 profits fall despite strong revenues
US footwear retailer Allbirds, which operates three stores in London and a concession in Selfridges, has revealed its gross profits declined 4% in Q3 to $32.5m (£28.2m), down from $33.9m (£33.9m) the previous year. The decline comes despite it experiencing an uptick in revenues, up 15.9% YoY to $72.7m (£63.3m).…
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9 November
Adidas lowers forecast amid Yeezy split
Adidas has lowered its full year guidance for FY22 with total revenues now expected to grow at a low-single-digit rate and net income from continuing operations will reach around €250m (£219m), following Adidas’ decision to terminate its ‘Yeezy’ partnership with Kanye West on 25 October which sees “high seasonality” towards…
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