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Michelle Russell

US apparel retailer bankruptcies among top in 2020

19 October 2020 | Michelle Russell

Apparel and footwear companies are amongst the three retail industries to have suffered the most this year through bankruptcies as a result of the pandemic, new figures show, with the outlook remaining bleak.... read more

Matalan cautious as Q2 profits slump by almost a third

14 October 2020 | Michelle Russell

UK value clothing retailer Matalan has booked a decline in second-quarter earnings and issued a cautious outlook amid the reinstatement of Government restrictions due to Covid-19.... read more

Evrythng secures funding to expand digital capabilities

6 October 2020 | Michelle Russell

Technology firm Evrythng has closed a US$10m further funding round enabling the product cloud to invest in expanding its product digitisation capabilities to improve supply chain transparency, visibility and sustainability for its brand partners.... read more

Three-quarters of UK shoppers put off shopping in-store

1 October 2020 | Michelle Russell

Almost three-quarters of UK shoppers will be put off shopping in-store because of the impact of Covid-19, new figures show, drastically shifting the proportion they spend online.... read more

Adidas to invest in sustainable materials with first green bond

30 September 2020 | Michelle Russell

German sportswear giant Adidas has placed its first ‘green bond’ as part of plans by the company to execute on its long-term sustainability roadmap, while also optimising its capital structure and financing costs.... read more

N Brown apparel sales continue to recover in H1

30 September 2020 | Michelle Russell

N Brown said it is trading in line with its expectations after it revealed apparel sales have continued to recover from mid-March levels and product revenue is improving.... read more

Nike sees permanent digital shift as online sales soar 82%

23 September 2020 | Michelle Russell

US sporting giant Nike says the shift to online sales could be a permanent trend after it revealed an 82% increase in digital sales in the first quarter.... read more

J.Crew closes UK business with loss of 75 jobs

22 September 2020 | Michelle Russell

US apparel retailer J.Crew Group has appointed liquidators for its UK business, resulting in the closure of all stores in the country.... read more

John Lewis axes bonus as losses slump to GBP635m

17 September 2020 | Michelle Russell

John Lewis & Partners has said it will not pay a staff bonus next year as it revealed a loss before tax in the first half of GBP635m (US$822m). ... read more

Under Armour to cut 600 corporate jobs

10 September 2020 | Michelle Russell

US sportswear retailer Under Armour is to cut around 600 corporate jobs as it extends a restructuring plan it laid out in April.... read more

Quiz to close stores as sales plummet

9 September 2020 | Michelle Russell

Quiz says it will close around 15 of its UK stores, while none of its Spanish stores are set to reopen, as the fashion retailer revealed a 77% slump in quarterly sales.... read more

Weak footfall and shift to online weighs on JD Sports H1

8 September 2020 | Michelle Russell

JS Sports saw both earnings and sales slide in its first half as weak footfall and additional costs associated with a shift in revenues to online channels during temporary store closures weighed on results.... 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

Debenhams owner Celine gears up for administration

24 August 2020 | Michelle Russell

Celine UK Newco 1 Limited, the owner of department store group Debenhams, has appointed administrators to prepare for its own potential bankruptcy filing.... read more

Marks & Spencer to cull 7,000 roles as Covid bites

18 August 2020 | Michelle Russell

UK clothing, home and food retailer Marks & Spencer is to make 7,000 job cuts across management and stores over the next three months as it looks to address the material shift in trade caused by the Covid-19 pandemic.... read more

Tough road ahead for Marks & Spencer amid restructuring

18 August 2020 | Michelle Russell

Following on from the 950 job cuts it announced just last month, Marks & Spencer has revealed today (18 August) it will make a further 7,000 as it once again attempts to transform the business. The news pushed the retailer's share price down over 2% this morning to 111.20 pence. Analysts believe the decision by M&S was a necessary one but that the retailer now has a tough road ahead to catch up with its rivals.... read more

The Very Group upbeat despite fashion sales decline

13 August 2020 | Michelle Russell

Digital pureplay retailer The Very Group, formerly Shop Direct, expects to return to profit in the full-year after reporting strong fourth-quarter revenue growth as customers bought more online.... read more

Debenhams to cut 2,500 store and distribution jobs

11 August 2020 | Michelle Russell

Struggling department store group Debenhams has announced plans to cut 2,500 jobs across its store network and distribution centre as part of its latest cost-cutting drive.... 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

US apparel sector boosts manufacturing economy in July

6 August 2020 | Michelle Russell

Economic activity in the US manufacturing sector grew in July, with the apparel sector reporting growth in employment and imports, new figures show.... read more

Joules moves to FY loss on stock and pandemic issues

6 August 2020 | Michelle Russell

British clothing retailer Joules has booked a drop in full-year sales and moved to a loss as the pandemic and e-commerce stock availability issues over the Christmas trading period weighed on results.... read more

Price pressures weigh on Lenzing H1 revenues

6 August 2020 | Michelle Russell

Austrian cellulosic fibre producer Lenzing has seen increased price pressure on textile fibres across its range as a result of the pandemic which weighed on sales and earnings in its first-half.... read more

Le Tote, Lord & Taylor file for Chapter 11

3 August 2020 | Michelle Russell

Fashion rental subscription service Le Tote has filed for Chapter 11 bankruptcy protection alongside Lord & Taylor, the department store chain it bought just last year.... read more

Chico's Canada adds to raft of bankruptcy filings

3 August 2020 | Michelle Russell

The Canadian arm of fashion retailer Chico’s FAS has filed for bankruptcy, resulting in the closure of ten stores.... read more

Gildan Activewear second-quarter sales slump 71%

31 July 2020 | Michelle Russell

Canadian apparel maker Gildan Activewear has moved to a loss in its second-quarter weighed down by lower sales volumes during the Covid-19 pandemic.... 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

Ascena latest to file for Chapter 11 bankruptcy protection

23 July 2020 | Michelle Russell

Ascena Retail Group, owner of the Ann Taylor, Loft and Lane Bryant chains, has filed for Chapter 11 bankruptcy protection, becoming the latest retail group to do so during the coronavirus pandemic.... read more

Nike to streamline organisation and corporate leadership team

23 July 2020 | Michelle Russell

Nike Inc has said it will streamline its organisation, including its corporate leadership team, as the sporting goods firm looks to become a nimbler, flatter organisation.... read more

Matalan moves to Q1 loss as sales slump

21 July 2020 | Michelle Russell

UK value clothing retailer Matalan has moved to a loss in its first-quarter and booked a slump in sales as the closure of its store estate due to Covid-19 hit results.... read more

Online sales not enough to shield Ted Baker from Covid-19

21 July 2020 | Michelle Russell

UK high street fashion brand Ted Baker has reported resilient growth, boosted by a strong performance online, but warns there is more work to be done.... read more

Asos pulls through pandemic with "robust" momentum

15 July 2020 | Michelle Russell

UK online fast fashion retailer Asos appears to be pulling through the coronavirus pandemic relatively unscathed as it booked higher sales in its third-quarter and offered an optimistic outlook for the full year. Analysts believe the group's flexible business model and a "robust" momentum in the business put Asos in a good position moving forward.... read more

Asos optimistic on outlook as Q3 sales grow 10%

15 July 2020 | Michelle Russell

Online fast fashion retailer Asos has said it expects full-year earnings to come in at the top end of market expectations after sales rose 10% in the third quarter thanks to an improvement in demand.... read more

Express Inc trading boosted by digital

14 July 2020 | Michelle Russell

US apparel retailer Express, Inc has issued a positive trading update as it noted around 95% of its stores have now reopened and its strategic transformation remains on track.... 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