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UK Online Fashion Retailer Missguided Falls into Administration

A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (Reuters)
A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (Reuters)
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UK Online Fashion Retailer Missguided Falls into Administration

A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (Reuters)
A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (Reuters)

British women’s online fashion brand Missguided has fallen into administration, a form of protection from creditors, with Teneo Financial Advisory appointed as joint administrators.

Teneo said Missguided will continue to trade whilst a buyer of the business is sought.

"As we continue to see, the retail trading environment in the UK remains extremely challenging," said Teneo's Gavin Maher.

"The joint administrators will now seek to conclude a sale of the business and assets, for which there continues to be a high level of interest from a number of strategic buyers."

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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid

Ralph Lauren raised its annual sales forecast after topping quarterly revenue estimates on Thursday, on steady demand for its cable-knit sweaters and Oxford shirts in North America, Europe and China, sending shares of the company 6% up in premarket trading.
Wealthy customers continue to splurge on high-end leather handbags and Polo sweat-shirts, boosting demand across Ralph's direct-to-customer channels and helping it counter a muted wholesale business and soft e-commerce sales in North America.
The results are in contrast to a pullback in the broader luxury sector, primarily in the key China market, which has hurt larger European fashion houses such as Hugo Boss, Kering and luxury bellwether LVMH.
The Club Monaco owner now expects fiscal year 2025 revenue to increase about 3% to 4% compared with a prior forecast of a 2% to 3% rise.
The luxury retailer's net revenue rose 6% to $1.73 billion in the second quarter ended Sept. 28 from a year earlier. Analysts on average had expected revenue of $1.68 billion, according to data compiled by LSEG.