Articles by Huw Hughes
Blake Mill forms advisory board, taps former Ted Baker creative director
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Menswear brand Blake Mill has announced a new advisory board and tapped three board members with respective expertise in fashion, finance, and tech. The Manchester-based brand has appointed Anthony Cuthbertson to its board, the former global creative director of Ted Baker who was responsible for the British label’s creative direction, brand, and...
Mothercare swings to FY loss, expects to complete refinancing 'shortly'
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Maternity and childrenswear specialist Mothercare has reported a loss in its most recent financial year ended March 25. The group, which has undergone a major transformation in recent years, made a net loss of 0.1 million pounds compared to a profit of 12.1 million pounds the prior year. That came as group turnover dropped 11 percent to 73.1...
UK clothing sales rebound in August
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Sales at UK fashion retailers picked up in August following a dip in July linked to poor weather, according to new data. Clothing stores sales volumes rose by 2.3 percent in August, mostly recovering from a fall of 2.9 percent the prior month, according to the latest figures from the Office for National Statistics (ONS). Overall retail sales...
Coty raises FY24 sales outlook on strong demand
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Coty has increased its guidance for the full year after seeing “strong momentum” in demand across key markets and categories, particularly in prestige fragrances. The beauty and cosmetics giant now expects FY24 core like-for-like sales growth of between 8 percent and 10 percent, up from its previous guidance of being at the top end of its...
Next raises FY profit outlook again as H1 sales beat expectations
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British fashion retailer Next has raised its full-year profit guidance again after posting better-than-expected full-price sales in the first half of the year. The high street giant now expects a full-year pre-tax profit of 875 million pounds compared to its previous guidance of 845 million pounds. It would represent a year-on-year increase of...
JD Sports hails strong H1, on track to meet FY earnings outlook
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UK sportswear giant JD Sports said Thursday it expects to meet its full-year profit target as its customers remain “resilient” against a backdrop of macro-economic challenges. The company expects to make a profit before tax and adjusted items of 1.04 billion pounds in the 12 months to February 3, 2024, which would represent year-on-year growth...
Modo Group acquires eyewear brand Italia Independent
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Modo Group has acquired eyewear label Italia Independent for an undisclosed sum. The group, which produces and distributes the Modo and Eco brands, and which has been in the independent eyewear industry since 1990, said its know-how will be a “key factor” in the new direction of the Italian brand, which was founded by Lapo Elkann. “I have always...
TJX UK reports jump in full-year profit
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The UK subsidiary of TJX Companies has reported a 17.5 percent increase in turnover in the year ended January 28, 2023. TJX UK, which operates off-price clothing chain TK Maxx, generated turnover of 3.89 billion pounds in the period, up from 3.31 billion pounds a year earlier. It’s also worth noting that the 17.5 percent increase came off the...
H&M introduces fee for online returns
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H&M has become the latest retailer to introduce return fees for online purchases. The Swedish fashion giant has begun charging shoppers 1.99 pounds per returned parcel, which will be deducted from their refund amount. However, H&M members can still return items for free. An H&M spokesperson told the BBC the move was introduced in the summer....
Courrèges appoints marketing chief
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French fashion brand Courrèges has appointed Lundström Therese as its new chief marketing officer (CMO). Therese has been in the position since August, according to LinkedIn. Earlier in her career, she served as editorial and communication director at Dries van Noten, and global media and corporate image manager at Givenchy. Therese is stepping...