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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Jun- 2022 -15 June
Missguided founder to return as CEO under Frasers Group
Missguided founder Nitin Passi has returned to the business as CEO just two weeks after the company was acquired out of administration by Frasers Group. Passi founded Missguided in 2009 with Frasers describing him as the “driving force behind what became one of the most popular online fashion destinations”. However,…
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13 June
Matalan lenders eye up advisers amid talks over retailer’s future
Matalan lenders are reportedly eyeing up appointing advisors ahead of talks about the retailer’s future financing in the face of current economic uncertainty caused by the cost of living crisis. According to Sky News, Matalan’s senior bondholders are in talks with Perella Weinberg Partners to discuss options with them set…
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8 June
Inditex profits surge 80% to £647.7m
The Inditex Group has reported that its profits increased 80% year-on-year to €760m (£647.7m) in the period ended 1 February to 30 April 2022 (Q1), amid a “sharp” recovery in store traffic and a “good” reception for all seven brands’ new season collections. However, the group made a provision of…
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8 June
N Brown revenue hits £43.1m in FY22
N Brown has welcomed a resilient year of trading in FY22, with a sustained growth in customer numbers as pre-tax profit hit £43.1m against £29.4m the prior year. Despite revenue dipping slightly to £715.7m, down from the £728.8m reported in FY21, EBITDA was also higher, rising from £84.9m to £95m.…
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7 June
Ted Baker’s preferred bidder backs out of deal
The proposed sale of Ted Baker has been thrown into doubt after it confirmed the board’s preferred bidder has backed away from a deal. The company, which has not named its bidder, was “informed by the preferred counterparty last night that it did not intend to proceed with an offer…
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7 June
JD Sports faces fine over price-fixing allegations
JD Sports is facing a potential fine after the CMA provisionally found that the group, alongside Elite Sports and Rangers Football Club, broke competition law by fixing the retail price of Rangers FC merchandise. The regulator alleged that JD Sports and Elite Sports fixed the prices of a “number” of…
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6 June
Asos lines up commercial officer for CEO role
Asos is reportedly set to name José Antonio Ramos Calamonte as its new CEO following the departure of Nick Beighton from the role last year. Ramos Calamonte, the current chief commercial officer at Asos, is now said to be the frontrunner for the role, according to The Sunday Times. The…
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1 June
Abercrombie & Fitch launches 2022 Pride collection
Abercrombie and Fitch has announced the launch of its 2022 Pride collection in collaboration with The Trevor Project, for both the Abercrombie and Fitch and Abercrombie kids brands, marking the third co-designed collaboration between the two organisations. The gender-inclusive adult collection features t-shirts, shorts, hoodies, jackets, sandals, hats, and socks.…
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1 June
Dr Martens profits surge to £214m amid record sales
Dr Martens has hailed a set of “record results” for the full-year period ending 30 March 2022 with its adjusted pre-tax profits surging 43% to £214.3m, after it revealed it sold “more pairs of boots, shoes, and sandals than at any time in its 62-year history”. The footwear brand, founded…
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1 June
Frasers Group buys Missguided out of administration for £20m
Frasers Group plc has bought online women’s fashion retailer, Missguided, out of administration for a cash consideration of £20m. The group has acquired certain intellectual property of Missguided Limited (in administration), Mennace Limited (in administration) and Missguided (IP). Following the completion of the sale, the business will be operated by…
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