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 -6 September
WNU receives B Corp certification
WNU has announced that it has achieved B Corp certification, commiting to a “continuous improvement process” on its commitment to environmental and social actions. B Corp is one of the most demanding certifications that evaluates brands’ social and environmental impact, with over 300 questions on governance, workers, communities and impact…
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5 September
Matalan eyes sale as inflation dents business
Matalan is reportedly eyeing a potential sale of the discount chain ahead of a looming refinancing deadline, as the business has been hit by rising inflation and weaker consumer demand. According to The Sunday Times, founder John Hargreaves is working alongside financial advisors at Lazard to either secure a potential…
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2 September
Lululemon lifts FY22 outlook as profits hit $7.86bn
Lululemon has raised its FY22 outlook, with revenues expected to be in the range of $7.86bn (£6.8bn) to $7.94bn (£6.87bn), representing a three-year annual growth rate of 26%. Revenues for Q3 are also expected to be in the range of $1.78bn (£1.54bn) to $1.8bn (£1.56bn), representing a three-year annual growth…
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1 September
Tommy Hilfiger and CK owner lowers FY22 outlook
PVH Corp has lowered its full year outlook for 2022, with revenues now expected to decrease 4% to 3% (increase 3% to 4% on a constant currency basis). The company also plans to reduce people costs in its global offices by 10% to streamline the organisation, drive efficiencies and fuel…
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Aug- 2022 -30 August
Farfetch revenues increase 10.7% in Q2
Online luxury fashion retail platform, Farfetch, has announced that the group’s revenue increased by 10.7% year-over-year in Q2 to $579.3m (£493.1m). The group’s profit after tax also reached $67.7m (£57.6m) in the period, which included a non-cash benefit arising from impact of lower share price on items held at fair…
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26 August
Abercrombie lowers sales forecast amid Hollister pressures
Abercrombie and Fitch Co. has lowered its sales forecast for FY22, with sales expected to be down mid single-digits from $3.7bn (£3.1bn) in FY21, compared with the previous outlook of flat to up 2%. Its sales forecast for the third quarter (Q3) has also lowered to high single-digits at $905m…
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25 August
Brits to have more considered Christmas as inflation bites, says eBay
The impact of inflation means consumers will be prioritising value for money and thoughtful gifting this festive season, according to the eBay Ads UK’s latest Christmas Spend Trends research report. The research, which surveyed 2,010 UK consumers who celebrate Christmas, found that a third (32%) of consumers are planning to…
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25 August
French fashion brand Jott to open its first UK store in Marylebone
French fashion brand Jott has announced its first UK store is opening in Marylebone Village in the autumn. Jott is a French premium outerwear brand with “iconic colourful down jackets”. Its first British store at 103 Marylebone High Street covers 1,140 sq ft of space. The news follows the recent…
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24 August
Richemont agrees deal to offload YNAP stake to Farfetch
Richemeont has revealed it has agreed a deal to offload a majority stake of its e-commerce unit Yoox-Net-A-Porter (YNAP) to Farfetcth and Emirati investor Alabbar. The deal will see Farfetch and Alabbar acquire a 47.5% and 3.2% stake respectively in YNAP, and the agreement for Richemont and YNAP each to…
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24 August
Apricot to exit CVA early
Creditors of Apricot have reportedly voted in favour of the retailer exiting its company voluntary process (CVA) 16 months earlier than planned due to an improvement in trade, according to Drapers. Apricot launched a CVA in January 2021 to move 13 of its 14 UK standalone stores to turnover rent…
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