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Next optimistic on year ahead despite FY profits halving
1 April 2021 | Michelle Russell
UK clothing and homeware retailer Next Plc saw its profits halve last year but has upped its earnings forecast thanks to strong online sales.... read more
Next continues to demonstrate its agility – What the analysts say
5 January 2021 | Michelle Russell
UK clothing and homeware retailer Next Plc saw its online sales soar 38% in the nine-week Christmas trading period to 26 December, boosting better than expected full-price sales. However, the company remains cautious about the continued uncertainty caused by the Covid-19 pandemic, and its potential economic impact. Next's share price was up 8.69% in morning trading today (5 January).... read more
Next cautions on year ahead despite online sales jump
5 January 2021 | Michelle Russell
UK clothing and homeware retailer Next Plc has benefitted from investment in its online channel as sales jumped 38% in the nine-week Christmas trading period to 26 December, boosted by loungewear and sportswear.... read more
Ted Baker losses widen as H1 sales slump
7 December 2020 | Michelle Russell
UK high street fashion chain Ted Baker saw its losses widen in the first half of the year and sales slump as the Covid-19 pandemic restrictions took their toll.... read more
New Ted Baker licensing deals with Next and Baird Group
28 September 2020 | Michelle Russell
UK high street fashion chain Ted Baker has agreed new licensing deals with Next Plc and Ben Sherman's licensee Baird Group, in a move it says will enhance supply chain efficiency.... read more
Pentland Brands appoints new CEO in management reshuffle
9 September 2020 | Michelle Russell
Pentland Brands has made a number of management changes, including the appointment of Chirag Patel as chief executive officer.... read more
Worker rights risks rise to the fore
7 September 2020 | Michelle Russell
As fashion brands and retailers begin to reset and reshape their supply chains as they emerge from the global coronavirus pandemic, a new multi-year investigation has identified child labour and audit deception among the risks at stake when sourcing from garment factories in Myanmar.... read more
New fashion retail landscape emerging
10 August 2020 | Michelle Russell
The new fashion retail landscape emerging in the wake of the Covid-19 pandemic is already leading to dramatic and permanent changes in the way brands and fashion retailers plan and work. There are some practical steps that surviving businesses should consider as online becomes the dominant way of doing business.... read more
JD Sports fined over breach of order in Footasylum case
5 August 2020 | Michelle Russell
JD Sports Fashion and its largest shareholder Pentland Group have been fined by the UK Competition & Markets Authority (CMA) for breaching an order related to its acquisition of Footasylum.... read more
Next bouncing back after feeling full force of the pandemic
29 July 2020 | Michelle Russell
UK clothing and homewares retailer Next Plc has seen its sales stage a partial recovery in the second quarter after they were dealt a big blow during the coronavirus lockdown. Investment in online capabilities, warehouse capacity and a strong balance sheet have all helped, and the company is now confident of booking a full-year profit. Industry experts offer their views on today's (29 July) results.... read more
Next Q2 sales beat expectations, outlook positive
29 July 2020 | Michelle Russell
UK clothing and homeware retailer Next Plc has said it expects to finish the year in profit after it revealed a better than expected slump of 28% in full price sales for the second quarter.... read more
Ted Baker to cut more than 500 jobs?
20 July 2020 | Michelle Russell
UK high street fashion chain Ted Baker is understood to be cutting more than a quarter of its workforce as the retailer battles weak consumer spending and a channel shift to online.... read more
Leicester garment industry dominates headlines
13 July 2020 | Michelle Russell
UK fast fashion retailer Boohoo Group has dominated the headlines in the last week after media reports surfaced of exploitation and unsafe conditions at one of its Leicester-based supplier factories, which is reportedly paying staff just GBP3.50 (US$4.38) an hour.... read more
Ted Baker raises GBP105m to invest in business
18 June 2020 | Michelle Russell
Struggling UK fashion retailer Ted Baker has raised GBP105m (US$131.2m) in capital to reduce its debt and invest in new efforts to try to turn the business around after posting a near GBP80m annual loss earlier this month.... read more
Industry weathering the storm of the Covid-19 pandemic
15 June 2020 | Michelle Russell
Trust, people and partnerships – key tenets underpinning fashion supplier and sourcing powerhouse PDS Group – have been tested to the limit during the coronavirus pandemic. But they've also stood the business in good stead, helping to not only weather the storm but reposition it to emerge even stronger from the crisis.... read more
Retail in spotlight as bankruptcies stack up
18 May 2020 | Michelle Russell
The impact of the coronavirus (Covid-19) pandemic is starting to be felt more heavily across the retail sector with more bankruptcies emerging.... read more
Concerns mount as Covid-19 impacts supplier orders
20 April 2020 | Michelle Russell
The coronavirus (Covid-19) continued to dominate our news coverage last week as supplier orders continue to be cancelled, apparel sales continue to plummet, and industry jobs remain on the line.... read more
Next re-opens online, warehousing and distribution ops
14 April 2020 | Michelle Russell
UK clothing and homeware retailer Next Plc has begun selling online again today (14 April) – albeit in a limited way – after putting safety measures in place to ensure its warehouse workers are safe.... read more
Pandemic continues to wreak havoc on industry
23 March 2020 | Michelle Russell
The ongoing impact of the coronavirus (Covid-19) pandemic on the global apparel industry and its supply chain continued to dominate content on just-style over the past week.... read more
Next fears virus sales hit more than supply issues
19 March 2020 | Michelle Russell
UK fashion and homeware retailer Next Plc has warned it could lose up to GBP1bn (US$1.15bn) in sales as the coronavirus impacts demand – but says it is armed with various measures that could help control costs and conserve cash.... read more
Coronavirus continues disruption of apparel and textile supply chain
9 March 2020 | Michelle Russell
Fuelled by new investment from its recent listing on the Hong Kong stock exchange, fashion supply chain manager Lever Style is realigning its business model to be the product engine for rising e-commerce brands. ... read more
Apparel supply concerns hit as coronavirus impact builds
17 February 2020 | Michelle Russell
Novel coronavirus (now officially named 2019-nCo) is continuing to shake up China’s supply chain. According to the World Health Organization (WHO), as of 17 February 2020 there have been 71,329 confirmed cases in 26 countries – with by far the majority (70,635) in China. ... read more
Ted Baker under review by lenders
13 January 2020 | Michelle Russell
A group of lenders for troubled UK fashion retailer Ted Baker are understood to have hired advisers to carry out an independent review of the business.... read more
Progress on trade deals welcomed
19 December 2019 | Michelle Russell
The United States and China have reached an agreement on a Phase One trade deal in a move that will delay new tariffs that were due to take effect over the weekend and halve the rates currently imposed on most apparel and textile products imported from China.... read more
Pentland Brands strengthens Berghaus product team
18 December 2019 | Michelle Russell
Pentland Brands has appointed former Nike and Columbia Sportswear executive Paul Anderton as head of category for product innovation for the Berghaus brand.... read more
Ted Baker director Ron Stewart latest to quit
17 December 2019 | Michelle Russell
Ted Baker has announced the departure of long-time non-executive director, Ron Stewart, just a week after the UK fashion retailer saw its CEO and chairman step down.... read more
Vietnam's textile-garment plan hits hurdles
19 November 2019 | Michelle Russell
domestically-made textile inputs remains a major problem that continues to hinder clothing manufacturers in the country.... read more
New B2B marketplace connects suppliers and retailers
3 October 2019 | Michelle Russell
A B2B fashion marketplace has launched that aims to help retailers find innovative styles at competitive prices from the best suppliers in the business, while helping sellers expand their reach and increase sales.... read more
Rwanda gearing up for a slice of sourcing action
24 September 2019 | Michelle Russell
For years now, Ethiopia has garnered the spotlight for its ambitions to become the world's next big destination for textile and fashion production. But another East African country – Rwanda – is also gearing up for a slice of the action, with the country's newest export-led garment factory quickly making up for lost time.... read more
Trump moves forward with trade threats
26 September 2018 | Michelle Russell
US President Donald Trump has decided to move forward with a 10% tariff on an additional US$200bn worth of goods from China, in a move the US fashion industry says will considerably disrupt the sector's supply chain. The tariffs will take effect today (24 September) and will be set at a level of 10% until the end of the year. On 1 January 2019, the tariffs will rise to 25%.... read more
Trump tariff dispute rumbles on
26 June 2018 | Michelle Russell
The US has escalated its trade threats to China after President Donald Trump said he is considering tariffs on an additional $200bn of Chinese goods if China "refuses to change its practices."... read more
Concern mounts over Trump's trade policies
16 April 2018 | Michelle Russell
Since President Donald Trump took office in January 2017, his administration has been busy fulfilling major campaign promises on trade policy – much to the concern of US fashion brands and apparel retailers.... read more
Next earnings tumble amid difficult clothing market
23 March 2018 | Michelle Russell
UK clothing and homewares retailer Next Plc has seen its annual profits fall by 8% as the company described 2017 as the most challenging year it has faced for 25 years.... read more
Ted Baker shares slide on challenging outlook
22 March 2018 | Michelle Russell
UK lifestyle brand Ted Baker saw its share price slide 5.5% in morning trading after cautioning on a challenging global trading environment looking ahead.... read more
Asia-Pacific trade deal now signed by 11 nations
12 March 2018 | Michelle Russell
The 11 remaining countries of the Trans-Pacific Partnership (TPP) have now signed a revised version of the multilateral trade pact without the US, reviving a deal that will slash tariffs and foster trade in a marketplace worth close to around US$13.5trn.... read more
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