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 -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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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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