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Boohoo has settled a staggering $197m (£156m) US court case in which the fast fashion giant was accused of faking discounts for customers. The pure-play online retailer, which also owns Pretty Little Thing and Nasty Gal, was accused of engaging in a “deceptive pricing scheme”, with the court filing claiming Boohoo would falsely raise the [...]
Mike Ashley’s Frasers Group has raised his stake in fast fashion firm Boohoo from 7.9 per cent to 9.1 per cent. The retail powerhouse, which owns Sports Direct and Frasers, had previously carved out a smaller stake in the company earlier this summer. The company previously said the move with Boohoo could lead to collaborations [...]
Fast fashion giant Boohoo revealed this morning that it had reached a final settlement without admitting liability in relation to a Californian lawsuit.
Online fashion retailer Boohoo expects full year revenue to be below market expectations as it continues to suffer from the squeeze on consumer spending. The company anticipates revenue will fall by 12 per cent over the financial year ending 28 February, after it reported a fall in revenue in a trading update released this morning. [...]
Online fashion retailer Boohoo said its profits halved, as the cost of living crisis continues to hit consumers’ spending and Brits flock back to physical stores. Pre-tax profits for the group halved during the 12 month period ended 28 February 2023 to £63.3m, down 49 per cent, with revenues dropping 11 per cent to £1.77bn. [...]
Boohoo shares continued last week’s downturn this morning, slumping as much as 15.4 per cent as the decision by one of the fast fashion retailer’s biggest shareholders to dump the majority of its stock continued to spook investors. Standard Life Aberdeen (SLA), the UK’s largest listed asset manager, on Friday sold off shares in the [...]
Shares in fast fashion brand Boohoo plunged for the second day in a row following allegations that workers at the retailer’s factory in Leicester were paid illegally low wages. The e-commerce retailer’s shares plummeted more than 13 per cent this morning to 255.5p, after falling more than 18 per cent yesterday. The losses came after [...]
Boohoo Group today posted a huge surge in revenue and profit for the full year but warned the outbreak of coronavirus had hit growth in March. The figures Boohoo’s revenue rose 44 per cent to £1.2bn in the year to the end of February 2020. Pre-tax profit jumped 54 per cent to £92.2m. Net cash [...]
Boohoo has been forced to issue a statement in defence of its supply chain practices, after a labour group alleged the firm was forcing staff sick with coronavirus to turn up to work. Labour Behind the Label, a campaign group for workers’ rights, said it had received reports of “workers being forced to come into [...]
Fast fashion retailer Boohoo suffered a further share price drop this morning after it launched an independent review of its UK supply chain following allegations of poor working practices and underpayment of workers at a clothing factory in Leicester. Boohoo this morning said it was “shocked and appalled” over the allegations that the Jaswal Fashions [...]
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