United Kingdom
Footwear not profiting from 10 year high in UK online retail sales
According to IMRG Capgemini online retail sales in the UK grew by 23.8% Year-on-Year in April. Footwear and clothing experienced two-digit declines, as consumers shift their shopping patterns in a hot month
Johnsons Shoes Company enters administration
The retailer, which operates under the brands Johnsons Shoes and Bowleys Fine Shoes, has entered administration after suffering the impact of the Coronavirus pandemic. CVR Global were appointed as administrators
Clarks to cut 900 jobs globally
The British-based shoemaker has announced it will reduce its workforce by 900 over the next 18 months. The company which was already experiencing some issues took the hit of Covid-19
Burberry says it will not apply for British state crisis money to pay salaries
With the UK under lockdown given the Covid-19 pandemic, many companies have taken advantage of the state job retention scheme. Burberry has said it won't take any of this cash
Shoe Zone cancels final dividend and expresses concerns with Covid-19
In the General Meeting held yesterday a special resolution to cancel payment of the final dividend from last financial year was approved. First semester results already reflect a drop in turnover
PVH completes sale of Speedo North America
PVH announced the completion of the sale of its Speedo North America business to Pentland Group, parent company of the Speedo brand, for 170 million US dollars in cash
Clarks considers permanently closing stores
The UK-based footwear retailer is preparing for the permanent closure of some of its stores and asked bankers to advise on options available for the strategic move
Burberry expects 30% drop in sales
The British-based luxury brand is already forecasting the hit from the impact of the Covid-19 pandemic. Burberry announced it is expecting a 30% decline in sales for the first quarter of 2020
Capri issues statement regarding Covid-19
Given the global diffusion of the Covid-19 Capri, the owner of Jimmy Choo, Versace and Michael Kors, made an announcement to the markets. The company will provide updates later regarding the impact of the pandemic
Shoe Zone announces deferral of dividend payment
The company is planning to cancel its final dividend payment after witnessing a drop in footfall as a result of the Covid-19 pandemic
Golden Goose with major investment from Permira Funds
A company backed by Permira funds has agreed to acquire Carlyle’s majority stake in Golden Goose
Capri cuts forecast as it expects to take the hit from coronavirus
The owner of Michael Kors, Jimmy Choo and Versace cut its forecasts as it warned of a 100 million US dollars hit to revenue due to the coronavirus outbreak in China
Shoe Zone with declining profits blames financial burden of public policies
In the last financial year Shoe Zone's underlying pre-tax earnings slid to 9.6 million British pounds from 11.3 British pounds in the previous year. Management blames Government for increasing taxes
12 Timberland stores to close across the UK
Outdoor clothing and footwear brand Timberland together with their retail partner 73 Retail are closing 12 stores across the UK. Other closures impacting The North Face and Havaianas
JD Sports with positive holiday sales
The sports-fashion retail company based in the UK announced an update on performance following the Christmas trading period. A positive like for like trend was registered-
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