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Michelle Russell

Primark warns of GBP1.1bn first-half sales hit

25 February 2021 | Michelle Russell

Value clothing retailer Primark is expecting a sales loss of GBP1.1bn (US$1.6bn) in the first half as the impact on trading from government restrictions in the UK and Europe takes it toll.... read more


Belk Inc wins approval for Chapter 11 bankruptcy

25 February 2021 | Michelle Russell

US department store retailer Belk Inc has filed for Chapter 11 bankruptcy and won approval to cut US$450m of its debt.... read more


John Lewis to close a further eight stores?

22 February 2021 | Michelle Russell

UK department store chain John Lewis Partnership is reported to be preparing to close a further eight stores as the retailer continues to find ways to cut costs.... read more


Issa brothers complete acquisition of Asda

18 February 2021 | Michelle Russell

The acquisition of UK supermarket chain Asda for GBP6.8bn (US$8.8bn) by UK entrepreneurs the Issa brothers and private equity firm TDR Capital has been completed this week.... read more


Dune Group looks to CVA for "vital lifeline"

15 February 2021 | Michelle Russell

The Dune Group Ltd has launched a Company Voluntary Arrangement (CVA) proposal as the UK footwear retailer looks for a "vital lifeline" amid its struggles to continue operating through lockdown.... read more


January sees uptick in UK online clothing sales

10 February 2021 | Michelle Russell

UK clothing sales recorded their highest growth since 2017 in January, new figures show, helping boost overall online sales.... read more


Frasers Group divests French Connection stake

9 February 2021 | Michelle Russell

Frasers Group, the owner of brands including House of Fraser, Sports Direct and Flannels, has sold its 24.93% stake in fashion brand French Connection.... read more


Waters promoted to CEO of Victoria's Secret business

5 February 2021 | Michelle Russell

The CFO of L Brands and interim CEO of the Victoria’s Secret business, Stuart Burgdoerfer, has announced his intention to retire.... read more


JD Sports share placing adds firepower for more M&A

4 February 2021 | Michelle Russell

Sports retail giant JD Sports has raised GBP464m (US$634m) in its latest share placing to support future acquisition opportunities.... read more


US apparel industry outlines stimulus needs to Congress

2 February 2021 | Michelle Russell

The US apparel and footwear industries are calling on Congress for more support to directly help businesses and ensure safe retail operations as the government debates additional stimulus measures in response to the pandemic.... read more


UK retailers face GBP360m of Christmas clothing returns

2 February 2021 | Michelle Russell

UK retailers face GBP360m (US$493m) of Christmas 2020 clothing and footwear returns, according to new research, at a time when the industry has grappled with GBP4.3bn of returns across the year already.... read more


Dr. Martens share price soars on stock market debut

1 February 2021 | Michelle Russell

British footwear brand Dr. Martens saw its share price soar 22% in trading on Friday (29 January) following its London Stock Exchange market debut.... read more


JD Sports on acquisition spree with DTLR Villa buy

1 February 2021 | Michelle Russell

JD Sports Fashion Plc has made its third acquisition in just over a month with the purchase of US athletic footwear and apparel streetwear retailer DTLR Villa.... read more


Naked Brands makes divestments to focus on e-commerce growth

1 February 2021 | Michelle Russell

Naked Brand Group, a manufacturer of intimate apparel and swimwear, has revealed plans to undertake a transformative restructuring, which will see it divest its brick-and-mortar operations and its Bendon brand, and focus exclusively on accelerating its e-commerce platform.... read more


BlackRock issues warning to CEOs on emissions goal

28 January 2021 | Michelle Russell

Global asset management firm BlackRock is urging CEOs and clients to commit to a 2050 net zero emissions goal, warning it may withdraw investment from any laggards.... read more


Lidl ramps up use of Cotton made in Africa

28 January 2021 | Michelle Russell

German discount chain Lidl is making a major move to use sustainable cotton from Africa in the production of its own textile brands.... read more


H&M and Lee partner on sustainable denim line

27 January 2021 | Michelle Russell

Swedish fashion retailer H&M has partnered with denim giant Lee to launch what they claim is the next generation of more sustainable denim, with advances at every stage of design and production.... read more


Asos in exclusive talks to buy Arcadia brands

25 January 2021 | Michelle Russell

UK online fast fashion retailer Asos is said to be the frontrunner to acquire the Topshop, Topman and Miss Selfridge brands from retail giant Arcadia.... read more


American Eagle to close over 200 stores under new strategy

25 January 2021 | Michelle Russell

US apparel brand American Eagle Outfitters Inc has outlined plans to close more than 200 of its namesake branded stores, while growing its Aerie brand in order to hit revenues of US$2bn.... read more


Citi Trends to open 100 new stores amid positive holiday sales

21 January 2021 | Michelle Russell

Value priced fashion retailer Citi Trends has outlined plans to open 100 new stores and remodel 150 others, as it revealed holiday sales that significantly exceeded company expectations.... read more


Arcadia Group to shutter 31 more stores?

20 January 2021 | Michelle Russell

British retail tycoon Phillip Green's Arcadia Group is understood to be shutting a further 31 stores by the end of the month, in a move that could result in more than 700 job losses.... read more


Superdry H1 losses widen amid Covid disruption

19 January 2021 | Michelle Russell

UK clothing retailer Superdry saw its losses widen in the first half as trading continued to be disrupted with further national and local lockdowns, restricting operations.... read more


M&S collaborative supply chain review finds human rights issues

18 January 2021 | Michelle Russell

A collaborative review into Marks & Spencer's footwear and food supply chains has identified a number of human rights and worker well-being issues, including inadequate sick pay and a lack of effective worker voice, as the UK food, homeware and fashion retailer looks to pinpoint areas to address.... read more


Myanmar garment worker support fund doubled

18 January 2021 | Michelle Russell

Myanmar’s garment workers will have access to more financial help after the European Union (EU) doubled its funding to the country’s Myan Ku 'Quick Assistance Fund’.... read more


Matalan suffers sales drop as lockdowns weigh on Q3

18 January 2021 | Michelle Russell

UK value clothing retailer Matalan saw sales and earnings slide in its third-quarter as the impact of the second government lockdown and the circuit breaks took their toll.... read more


Sweaty Betty chooses PLM to streamline processes

15 January 2021 | Michelle Russell

British activewear retailer Sweaty Betty has invested in a new Product Lifecycle Management (PLM) solution to help streamline processes and provide a single source of truth across merchandising, design and buying.... read more


Half a billion pound lockdown blow for Primark – What the analysts say

14 January 2021 | Michelle Russell

The forced store closures as a result of the current lockdown have left Primark estimating a GBP540m (US$737m) loss of sales for the 16 weeks to 2 January. If stores remain closed into February, the retailer warns of a potential loss of sales amounting to GBP1.05bn. Despite this, Primark is continuing with its store opening programme. Analysts offer mixed thoughts on the trading update.... read more


Bonmarché secures sale to investor Purepay Retail

14 January 2021 | Michelle Russell

The joint administrators of UK-based women's value clothing retailer Bonmarché have completed a sale of the businesses to Purepay Retail Limited, which is backed by an international investor consortium.... read more


Primark warns of GBP1bn sales hit amid store closures

14 January 2021 | Michelle Russell

Value clothing retailer Primark has warned of a hit from lost retail sales of more than GBP1bn (US$) due to the pandemic lockdown as it revealed revenues were 30% lower than last year.... read more


JD Sports and Authentic Brands in talks over Topshop deal?

14 January 2021 | Michelle Russell

JD Sports Fashion Plc is understood to be in talks with Authentic Brands over a potential joint-ownership of Arcadia’s Topshop brand.... read more


Fast Retailing makes impressive rebound in Q1

14 January 2021 | Michelle Russell

Fast Retailing, owner of the Uniqlo casual clothing brand, has reported a higher-than-expected rise in earnings in its first-quarter thanks to an impressive rebound in sales.... read more


Teijin introduces carbon pricing system for capital investments

14 January 2021 | Michelle Russell

Polyester fibres and products producer Teijin Limited has introduced an internal carbon pricing (ICP) system for capital investment plans throughout the group.... read more


Debenhams to close six stores as rescue talks continue

13 January 2021 | Michelle Russell

Debenhams has said it will permanently close six stores, including its Oxford Street store, as the UK department store retailer continues to engage with third-parties over a potential sale of all, or parts, of the business.... read more


Streetwear brand MNML chooses PLM to aid growth

12 January 2021 | Michelle Russell

Streetwear brand MNML has invested in a new Product Lifecycle Management (PLM) solution to aid the company's rapid growth and allow them to scale properly.... read more


Very posts record Christmas sales as online traffic jumps

12 January 2021 | Michelle Russell

Multi-category online retailer Very.co.uk, which operates the Littlewoods brand, has recorded its best ever Christmas trading period supported by the company’s new fulfilment centre, which processed 3.9m orders during the peak.... read more


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