‘Challenges and difficulties’ remain for Boohoo in fight against unethical supply chain measures March 8, 2022 “Challenges and difficulties” remain at Boohoo, according to Sir Brian Leveson’s final report after the fast fashion firm’s supply chain scandal. The retailer launched a review programme after reports of neglect and underpayment of warehouse workers in Leicester during the Covid lockdown in 2020. Leveson was brought on board to oversee Boohoo’s Agenda For Change [...]
Cineworld, Hammerson and Boohoo: The top 10 most shorted UK stocks and fund managers with the most positions January 29, 2022 Cineworld Group, the world’s second-largest cinema chain, is currently the most shorted UK listed company, according to new research shared exclusively with City A.M. this morning. Some 8.8 per cent of its stock was held short by six investment firms, with New Holland Capital the largest short position with 2.42 per cent of the company’s [...]
Boohoo opens first owned factory in ‘new chapter’ amid international market challenges January 26, 2022 As Boohoo opens its first owned factory in Leicester, the company will be hoping to take a positive step forward after a miserable two years. The fast fashion retailer said its new 32,000 sq ft factory in Thurmaston Lane, Leicester, was “proof of its commitment to the city of Leicester and ethical British manufacturing.” The [...]
Boohoo lowers guidance as more shoppers return clothes with shares plunging 22pc December 16, 2021 Online fashion retailer Boohoo has lowered its guidance for the financial year as profits have been hit by higher return rates, supply chain challenges and inflation skyrocketing. Boohoo said that it was expecting net sales growth to be between 12 and 14 per cent, for the financial year ending 28 February. It had previously forecast [...]
Central bank of Norway acquires stake in fast fashion firm Boohoo December 7, 2021 The central bank of Norway has acquired a 3.1 per cent stake in fast fashion retailer Boohoo, according to documents filed on the London Stock Exchange. Norges Bank is now the fifth largest institutional investor in the online retailer, following confirmation of the investment this week. Boohoo co-founder Mahmud Kamani is still the largest single [...]
Exclusive: The pandemic showed the limitations of an online-only model, says retail guru November 17, 2021 A year of enforced change in buying habits where pretty much everything went online has reverted to ‘the new normal’. The Covid pandemic accelerated the shift to online; but is the future of retail really digital only? While in the short to medium term, there will remain some concerns over the logistics of browsing and [...]
Boohoo close to settlement agreement over fraudulent pricing action November 4, 2021 Online fashion retailer Boohoo has said it is close to a settlement agreement over a class action about misleading customers on pricing. A case filed in California alleged that the Manchester based company offered heavy discounts to US customers based on inflated original prices, which allegedly it had never asked customers to pay in the [...]
Tesco and ASOS call for legal crackdown on human rights abuse October 22, 2021 Tesco and ASOS are among more than 30 retail businesses and investors have called for a new UK law to prevent human rights abuse. Some 36 household names – including Primark and John Lewis – have issued a joint statement calling for fresh human rights and environmental due diligence law. A legal review by Blackstone [...]
Boohoo shares slump as profit dwindles from pandemic highs September 30, 2021 Boohoo’s shares sank as much as 15 per cent today, after the fast fashion retailer reported profits were down on last year’s pandemic highs, as increased operational costs slightly offset business gains. The e-commerce giant announced this morning that revenue surged 20 per cent in the six months ending 31 August, with sales jumping to £975.9m [...]
Boohoo: Long journey to win back investors after worker neglect September 27, 2021 Online fashion retailer Boohoo faces an uphill battle in overcoming its reputation after poor treatment of garment workers. The fast fashion giant has made moves to improve problems in its supply chain in recent months and to make itself more transparent to consumers – but it may not be enough. Analysts said the measures looked [...]