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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Sep- 2022 -16 September
MySale rejects Frasers Group takeover bid
MySale’s directors have rejected a takeover bid from Frasers Group, whose offer to acquire the remaining shares of the Australian marketplace for 2p per share was said to undervalue the business. Frasers had previously acquired 270,666,650 MySale Shares at 2p per share on 29 June 2022, becoming MySale’s largest shareholder…
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16 September
H&M sales lower than expected in Q3
Swedish fashion chain, H&M, has revealed that net sales were lower than expected in its third quarter, rising only by 3% to 57.5bn Swedish crowns (£4.7bn) in the period ended 31 August 2022. This reportedly failed to meet a 5% analyst expectation. In local currencies, sales fell by 4% overall. …
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15 September
Patagonia owner gives away company to fight climate crisis
The owner and founder of Patagonia, Yvon Chouinard, has announced that he is giving away the company to an environmental trust and non-profit, with profits set to go towards environmental charities to help fight the climate crisis. The Chouinard family has split its shareholding between two new entities. The company’s…
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14 September
Zara owner Inditex’s H1 sales hit ‘historic highs’
Zara’s owner, Inditex, has announced its sales, income and EBITDA has reached “historic highs” in the first half of 2022 (H1 FY22), with sales growing 24.5% to €14.8bn (£12.8bn) year-on-year. Sales were positive in all “key” geographical areas, and net income increased 41% to €1.8bn (£1.5bn) while gross profits increased…
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14 September
Next pulls out of Joules takeover deal
Fashion retailer Next has reportedly pulled out of its takeover deal with Joules after talks between the two ended, according to The Independent. Joules was said to be in investment talks with the group last month after reports stated it could sell a 25% stake to its larger rival. Following…
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9 September
Asos hit by weak August sales as inflation weighs on shoppers
Asos has cautioned over profits after sales fell below expectations in August as it warned consumers may be reducing their spending due to the cost of living crisis. The online fashion giant said it saw “good growth” in June and July and expects total sales for the year ended August…
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8 September
Primark owner warns on lower profits
Primark’s owner, Associated British Foods (ABF), has warned of lower profits for the next fiscal year due to cost inflation, higher energy costs, and market volatility following the strengthening of the US dollar at the end of this quarter. Primark’s operating profit margin is now expected to be lower than…
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8 September
Ted Baker appoints head of menswear sales
Ted Baker has appointed James Waller as its new head of sales for menswear. In his new role, Waller will work under global creative director Anthony Cuthbertson to help support the delivery of vision and strategy for Ted Baker’s menswear clothing. Ted Baker said he has an “impressive” background in…
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8 September
Reebok appoints new CEO
Sparc Group, a full-service lifestyle brand operating company, has announced the appointment of Todd Krinsky as the new CEO of Reebok. He will continue to be based at the brand’s Boston headquarters and will report to Marc Miller, CEO of Sparc Group. Krinsky will take up the role from Matt…
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6 September
St James Quarter adds Cos and Neom to offering
St James Quarter, the 1.7 million sq ft retail-led lifestyle district in Edinburgh, has announced it has signed deals to lease a collective 8,084 sq ft to fashion and wellness brands Cos and Neom. Cos has picked the lifestyle quarter as the location for its new Scotland store, which will…
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