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 -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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8 November
Primark sales rocket 43% in FY22
The parent company of Primark, Associated British Foods, has announced that Primark’s total sales rocketed by 43% to £7.7bn in FY22, as the group welcomed a “significant” rise in customer footfall and sales densities. In the UK, like-for-like sales and market shares returned to pre-pandemic levels, though weaker like-for-like sales…
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7 November
Mamas & Papas revenues jump 17% in H1
Mamas and Papas has reported that its revenues grew 17% in the six months to September, with the group’s continued expansion of its UK retail space driving “strong” sales growth despite a challenging environment for consumers. The group posted sales of £126m in its last full financial year ended 27…
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7 November
N Brown appoints new director of design
N Brown Group has announced the appointment of Helen Low as the group’s new director of design. Low, who is currently head of design at Joules, will join on 21 November 2022. The appointment is in line with existing succession plans for the group’s current director of design, Neil Hendy,…
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