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 -7 November
Joules explores CVA as trading lags behind expectations
Joules has announced it is exploring a possible CVA after trading continued to soften in recent weeks, as it continues to work alongside Interpath Advisory to explore a number of options to secure the group’s future. As part of its turnaround plan, the group also advanced discussions with a number…
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7 November
Puma appoints new CEO
Puma has announced the appointment of Arne Freundt as its new CEO and chairman of the management board. The news comes as Freundt reportedly received a contract for four years, effective from 1 January 2023, as Bjørn Gulden’s mandate as member of Puma’s management board is set to expire at…
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4 November
Hugo Boss ups guidance after highest ever quarterly sales
Hugo Boss has upped its full-year guidance following a period of “significant” growth and “strong momentum” in its third quarter of trading, where sales figures broke historic records for the group. Over the period, group sales rose by 18% to €933m (£812m), up from €755m (£657m) the prior year, representing…
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3 November
Clarks returns to profit in FY22 amid repositioning
Clarks has announced it has returned to profit for the year ended 29 January 2022, with pre-tax profits rising to £55.4m compared to a loss of £181.8m in the previous year, following a period of recovery and repositioning. Group operating profit also increased year-on-year from £162.2m to £61.7m, and group…
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3 November
Zalando revenues rise by 2.9% in Q3
Zalando’s revenues have increased by 2.9% in its third quarter, with its adjusted EBIT increasing to €13.5m (£11.7m), up from €9.8m (£8.49m) in the same quarter a year ago. The group reports that its gross merchandise volume (GMV) has risen 7.1% to €3.28bn (£2.84bn), while the introduction of a minimum…
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2 November
For The Creators to launch new rental subscription service with Zoa Rental
For The Creators, a fashion rental and resale platform aimed at pregnant women and new mums looking to save money and the planet with their wardrobe curation, has appointed Zoa Rental to power its rental service, featuring its new rental subscription service. The platform curates an edit of clothing for…
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1 November
Asos to axe 100 roles
London-based fashion retailer Asos is planning to axe 100 job roles, following a £32m pre-tax loss this year. It is reported that the retailer, which is thought to have approximately 3,300 people on its payroll, will decide which roles to cut back on next week following the launch of a…
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Oct- 2022 -28 October
VF Corp revises outlook as Q2 revenues fall 4%
VF Corp, the owner of brands such as Vans and North face, has revised its FY outlooks after it revealed its revenues declined 4% to $3.1bn (£2.6bn). In its trading update for the second quarter ended October 1, 2022 it confirmed its big four brands saw revenues fall 5%, despite…
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27 October
Inditex agrees sale of Russian business
Zara parent company Inditex has reached an agreement for the sale of its business operations within Russia to Daher Group. The news of the company terminating its retail business in Russia comes after Inditex paused its sales within the region on 5 March earlier this year. It is reported that…
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26 October
Burlington Arcade unveils three jewellers among new brands
Burlington Arcade has announced that it has signed 12 new brands, including 3 new jewellers , bringing the total number of tenants to 47. Jewellery designer Lily Gabriella will launch her first ever showroom within the Penthouse above the Piccadilly entrance, opening in November; 886 Jewellery – The Royal Mint…
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