Boohoo rebrands as Debenhams in shift to a marketplace model Retail Boohoo will rebrand to Debenhams as it shifts to a marketplace model to house its brands in the first phase of its turnaround plan. Shares in the company dropped just over three per cent on the news. The Manchester-based company has been struggling with low sales for its youth brands—Boohoo, PLT, and MAN—posting a pre-tax [...]
Mulberry: Luxury brand looks to turnaround ‘sub-optimal’ performance Retail British luxury plan Mulberry has unveiled a turnaround plan aimed at rescuing the retailer from a period of decline. This comes after its share price has fallen 17 per cent in the last month and more than 30 per cent in the last year. Revenue for the last quarter of the year fell 18.3 per [...]
Will the public miss WH Smith if it disappears from the UK high street? YouGov’s chief executive Steve Hatch takes a closer look at the data behind the biggest stories in business. Here, he looks at the future of WH Smith. News broke last week that WH Smith was looking to sell its UK high street stores. The company told the London Stock Exchange that it intended to become [...]
‘We need to get back to our very best’: Boohoo boss vows to make 2025 a ‘year to remember’ January 22, 2025 The chief executive of fast-fashion giant Boohoo has said the group “needs to get back to our very best” as he vowed to make 2025 “a year to remember”. Daniel Finley was speaking a day after shareholders voted to keep co-founder Mahmud Kamani on its board in another blow to Mike Ashley’s Frasers Group. But [...]
Boohoo shareholders shun Frasers and vote to keep co-founder Kamani on board January 21, 2025 Boohoo shareholders have voted two to one against a resolution proposed by Mike Ashley’s Frasers Group to remove co-founder and vice chair Mahmud Kamani as a director of the fast-fashion giant. Four fifths of shareholders took part, and two thirds of participating shareholders voted to retain Kamani on the board of the Manchester-headquartered company. In a statement, [...]
Grab the popcorn: Retail’s five most dramatic stories this year December 27, 2024 From Boohoo’s boardroom dramas to The Body Shop’s salvation in the nick of time, 2024 has been a big year in retail. City AM counts down its top five retail dramas this year (spoiler alert: Mike Ashley is at the centre of two of them). Asda tumbles down the supermarket charts Asda has faced a [...]
Boohoo hits out at Ashley’s Frasers Group again as public spat deepens December 10, 2024 Boohoo has accused Mike Ashley’s Frasers Group of waging a campaign to “destabilise” and “disrupt” the company today in the latest salvo of a protracted spat between the two retail giants. In a letter to shareholders, Boohoo urged them to vote against Ashley’s efforts to install himself on Boohoo’s board and said Frasers is “acting [...]
Boohoo shares rebound from historic low amid battle over its future December 9, 2024 Shares in fast fashion group Boohoo have recovered from a historic low as the battle over its future took another twist ahead of a crunch vote before Christmas. The Manchester-headquartered group, whose brands include Debenhams and Prettylittlething, suffered a slump in its share price in July from 35p to 27p. However, shares in Boohoo have [...]
Mike Ashley pledges ‘fresh ideas’ in bid for Boohoo board seat December 8, 2024 Frasers Group chief Mike Ashley has renewed his criticism of Boohoo’s management as he continues his bid for a seat on the struggling fashion retailer’s board. In an open letter, Ashley vowed to turn around the London-listed company, arguing that it was underperforming with “no clear strategy to halt the decline”. “As a board member, [...]
Debenhams makes first profit since Boohoo rescue December 4, 2024 Debenhams has returned to the black for the first time since it was rescued out of administration by Boohoo in 2021. For the year to 29 February, 2024, the firm’s marketplace arm has reported a pre-tax profit of £4.5m, having posted a pre-tax loss of £732,000 for the prior 12 months. Its revenue has also [...]