News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Aug- 2023 -2 August
VF Corp revenues drop to $2.1bn in Q1 FY24
American apparel and footwear company VF Corp has revealed that its revenues declined 8% to $2.1bn (£1.5bn) for the first quarter ending 1 July 2023, with its big four brands down 11%. It reported that Vans revenues fell 22% to $737.5m (£576m), while Timberland and Dickies revenues decreased by 6%…
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2 August
Dr Martens shares rise after Sparta Capital builds stake
Dr Martens saw its share price boosted at the start of this week (31 July) after it was targeted by activist fund manager Sparta Capital. According to a Sky News report over the weekend, the fund, launched by former Elliott Management exec Frank Tuil, has acquired tens of millions of pounds…
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2 August
Hugo Boss raises guidance amid strong Q2 sales
Hugo Boss has raised its full-year guidance after a 20% increase in group sales to €1.02bn (£880m) during the second quarter of the year ended 30 June 2023. The group now expects its sales to increase between 12% and 15% to €4.1bn (£3.52bn) and €4.2bn (£3.61bn) for the full year.…
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2 August
Scamp and Dude to open stores in Edinburgh and London
The independent fashion brand, Scamp and Dude, has announced its expansion with two new stores in Edinburgh’s St James Quarter and London’s Battersea Power Station, which are due to open this September. This follows a year of “exponential” growth for the brand after the retailer launched its flagship store in…
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2 August
Farfetch appoints new CFO
Farfetch, the leading global platform for the luxury fashion industry, has announced the appointment of Tim Stone as chief financial officer, effective from September. Stone brings vast experience from marketplace and technology platform businesses to his new role. He spent more than 20 years in senior finance roles at Amazon,…
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2 August
Co-op boss hits back at profiteering claims amid rise in shoplifting
Co-op Food boss Matt Wood has “lashed out” at supermarket profiteering claims amid a surge in crime at the group’s stores, The Telegraph has reported. Hood claimed that shoplifters were able to “overrun” retailers without facing consequences, and warned that people were defending their actions after MPs accused supermarkets of…
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1 August
Swarovski launches new concept store at Liverpool One
Grosvenor has announced that Swarovski, the luxury crystal jewellery brand, has opened at Liverpool ONE, in a move that marks the return of a standalone Swarovski store to the city. The 2,000 sq ft space on Peter’s Lane follows the globally renowned brand’s new ‘WonderLUX’ store concept, showcasing an immersive…
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1 August
Cotton Traders reveals year-long partnership with Alex Jones
British heritage fashion brand, Cotton Traders, has announced its new year-long partnership with broadcaster Alex Jones, its latest female celebrity ambassador this year. The campaign featuring Jones will launch on 3 September and will see her showcase her favourite pieces from the retailer through the seasons, whilst revealing her own…
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1 August
Skechers reports record revenues in Q2
Footwear retailer Skechers has reported record quarterly sales of $2.01bn (£1.56bn), a YOY increase of 7.7%. For the 12 weeks ended 30 June, it saw sales increase 17.9% internationally and a 4.6% decrease domestically. Direct-to-consumer increased 29.1% and Wholesale decreased 5.9%. On a constant currency basis, sales increased 9.1%. Wholesale…
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1 August
L Catterton eyes $8bn Birkenstock IPO
Private equity owner L Catterton is reportedly considering launching an initial public offering of German sandal retailer Birkenstock as soon as September, according to Financial Times. People familiar with the matter told the FT that L Catterton, who acquired a majority stake in Birkenstock in 2021, wants to value Birkenstock…
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