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.
-
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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. …
Read More » -
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…
Read More »
