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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Aug- 2022 -16 August
Reebok owner acquires Ted Baker for £211m
Authentic Brands Group (ABG), the parent company of Reebok, has reached an agreement to acquire Ted Baker for approximately £211m, with Ted Baker shareholders being entitled to receiving 110p in cash for each Ted Baker share. It is reported that the cash consideration is final, Bidco, an ABG-owned entity, reserves…
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16 August
Kick Game appoints PwC to explore £150m sale
Kick Game, a footwear reseller, has reportedly hired PricewaterhouseCooper (PwC) to explore options which could include a £150m sale, according to Sky News. Reports suggest Kick Game, which was founded in 2013, is working with the accountancy firm to field interest from a number of suitors. The process is expected…
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15 August
Zalando to cut back marketing spend instead of job cuts
Co-founder and co-chief executive of Zalando, Robert Gentz, has told the Financial Times that the company’s stall in internet shopping is just “a blip” and that the company aims to avoid mass job cuts by cutting its marketing spend instead. The FT reported that the European fashion retailer’s competitors, which…
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12 August
Topshop founder Sir Ralph Halpbern dies aged 83
Sir Ralph Halpern, the founder of Topshop who was described as a driving force behind British retail in the 1970s and 1980s, has died at the age of 83. Halpern began his career as a trainee at Selfridges, and would later go on to become “one of the most high-profile…
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9 August
Arcadia trustees near closing £1bn pensions deal
Arcadia’s pension trustees are reportedly close to securing a £1bn deal that will see them receive the retirement schemes promised by the group prior to its collapse, Sky News has reported. The trustees were said to be in “detailed” talks with Pension Insurance Corporation (PIC) about a deal to insure…
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8 August
Joules confirms talks to sell minority stake to Next
Joules has confirmed in a statement that Next plc has been in negotiations for several weeks for the retail giant to acquire up to 25% of the smaller London-listed retailer. The statement confirmed Next’s plan to adopt its total platform services to support the group’s long term growth plans. Additionally,…
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8 August
Kontoor Brands revenue up 25% in Q2
Global lifestyle apparel company, Kontoor Brands, has seen revenue increase by 25% to $614m (£507m) in Q2, largely driven by strength in the U.S. in both its Digital and wholesale channels. The group’s strongest brands, Wrangler and Lee, also reported a revenue increase of 19% and 14% respectively in H1…
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4 August
Adidas lowers full year forecast as Q2 profits drop 27.9%
Adidas has reported that its operating profits dropped 27.9% year-on-year from €543m (£454.5m) to €392m (£328.1m) in the second quarter ending June 30 2022 (Q2 FY22), following the suspension of operations in Russia, Covid-related lockdowns in Greater China, and higher supply chain costs. Consequently, Adidas has adjusted its FY22 guidance,…
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3 August
Mulberry profits rise to £21m as revenues jump 35%
British luxury fashion brand Mulberry has posted profits before tax of £21.3m for the 53-week period ended April 2022, up from £4.6m the previous year, as its revenues reflected “strong recovery post Covid-19”. It revealed group revenue increased 32% during the period to £152.4m, with UK retail sales also up…
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2 August
VF Corp Q1 revenues surge to $2.3bn
VF Corporation has revealed its Q1 revenues surged 3% to $2.3bn (£1.9bn) boosted by its performance in EMEA and the Americas. The group saw revenues at its North Face brand jump 31% to $0.5bn which helped to offset a 7% fall in sales at its primary brand Vans to $0.9bn.…
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