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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Oct- 2022 -10 October
Quiz revenues rocket 37% as demand soars
Quiz revenues have soared by 37.2% in the last six months, hitting £49.4m in results that were ahead of its previous expectations. Between 1 April and 30 September, revenues were £13.4m higher than the prior year, reportedly reflecting the brand’s appeal and reputation for dressy and occasion wear, with demand…
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7 October
Superdry swings to profit but ‘cautious’ on near future
Superdry has returned to profitability as pre-tax profits surged to £21.9m in the 53 weeks ended 30 April 2022 (FY22), compared with a loss of £12.6m in FY21. However, the company said it remains “cautious” about the near future amid a “challenging” macroeconomic environment, high levels of inflation, and the…
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3 October
John Lewis launches womenswear rental platform
John Lewis has partnered with rental platform HURR to launch its first ever womenswear rental platform to help “encourage a more sustainable way of shopping”. Launching today (3 October), the John Lewis Fashion Rental will host over 25 brands from Olivia Rubin, O Pioneers, & Other Stories and Seraphina with…
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Sep- 2022 -30 September
Joules says turnaround plan is ‘going well’ amid CVA rumours
Lifestyle retailer Joules has confirmed that it has appointed Interpath Advisory to help the company with its turnaround plan. The retailer confirmed the news in a statement released yesterday (29 September) which revealed that the financial advisors are “assisting the board with an initial assessment of certain elements as part…
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29 September
Next cuts sales and profit guidance
Next plc has reported that its profit before tax is up 16% compared to the previous year at £401m, and up 22% compared with 2019 despite issuing its second profit warning this year. The company said the profit warning is due to soaring inflation and a devaluation of the pound…
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28 September
Boohoo warns of further sales decline as profits drop 90%
Boohoo has warned that its sales are likely to be hit over the remainder of the financial year due to increases in inflation-driven costs and lower sales than previously anticipated for the six months ended 31 August 2022 (H1). Revenues are expected to continue to decline and adjusted EBITDA margins…
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26 September
Frasers makes mandatory offer for MySale
Frasers Group has made a mandatory cash offer for the entire issued and to be issued share capital of Australian online fashion discounter MySale, for shares which are not already owned by Frasers or any persons acting in concert with it, at a price of 2p per MySale share. Frasers…
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22 September
JD remains ‘cautious’ on trading as H1 profits slip
JD Sports has reported its pre-tax profits and exceptional items dropped 12% year-on-year in the 26 weeks ended 30 July 2022 (H1 FY22) from £439.5m to £383.5m, following macroeconomic uncertainty, inflationary pressures and the potential for further disruption to the supply chain. The group said it remains cautious about trading…
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21 September
JD Sports chair agrees £5.5m exit deal
JD Sports has reached an agreement with former chairman Peter Cowgill, which will see him receive £5.5m in an exit deal that will put him in a consultant position for the group following his departure last May. The arrangements include a binding set of covenants for a two-year period, replacing…
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20 September
Unbound Group reports ‘encouraging’ H1 despite £0.3m lose
Hotter Shoes owner, Unbound Group, has reported an EBIT loss of £0.3m for the first half of 2022 after taking into account the costs accumulated by the launch of its new multi-brand platform. The group saw revenue growth of 10.4% to £27.6m compared with £25m for the same period the…
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