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 -24 January
Primark revenues surpass £3bn
Primark owner Associated British Foods has announced that its retail revenues for the year reached £3.15bn. In a trading update for the 16 weeks ended 7 January 2023, the company stated that its retail revenues were up 18% compared with last year and up 15% at constant currency rates. Primark’s…
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23 January
In The Style warns of FY losses as revenues fall 22%
Online womenswear fashion brand, In The Style, has revealed that its total revenue for the quarter ending 31 December 2022 declined by 22% on the prior year, while its direct-to-consumer revenue dropped by a further 13%. As a result, the company expects to report an adjusted EBITDA loss of between…
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19 January
Dr Martens warns on profits amid US disruption
Dr Martens has warned that its profits and revenues could drop after it faced “significant operational issues” at its new distribution centre in Los Angeles. The retailer has blamed people and process errors which caused a stock bottleneck. It has opened three temporary facilities to deal with the issue. The…
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18 January
Burberry sales rise 1% amid Chinese ‘covid disruption’
British retailer Burberry has announced that its like for like sales only grew 1% for the 13 weeks ended 31 December 2022 as a result of covid related disruptions in China. When excluding China, the company’s sales rose 11%. Sales in the EMEIA region increased 19%, driven by sales to…
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17 January
Burberry unveils new senior positions in leadership team
Burberry has appointed Giorgio Belloli and Delphine Sonder to the newly-created roles of chief digital, customer and innovation officer and chief merchandising officer respectively, with immediate effect. Belloli will be responsible for leading the global e-commerce, digital product, and analytics teams, as well as a newly-formed innovation function. Meanwhile, Sonder…
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11 January
JD Sports ups guidance amid strong Christmas trading
JD Sports has raised its full-year guidance after a “particularly impressive” business performance over the Christmas period, both in stores and online, as retail revenue over the period grew 20%. As a result, JD now expects its profit before tax and exceptional items for the year ending 28 January 2023…
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11 January
Boohoo to axe roles at London office
Boohoo Group is set to make a series of job cuts across its London office, and is reportedly consulting on more than 100 redundancies. According to the Times, the majority of roles under threat are in its e-commerce, buying and design departments. A consultation reportedly launched last week, though a…
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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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