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 [...]
Exclusive: ASOS and Boohoo lead the pack as online-only retail sales hit record £16bn September 20, 2021 Sales at the UK’s 20 biggest online-only retailers have reached a record £16.4bn in the last year, rising 22 per cent from £13.2bn the previous year, according to calculations based on Companies House data. This growth continues to be driven by the success of fashion retailers, which increased their revenues by 14.2 per cent to [...]
Londoners ‘disgusted’ by fashion industry abuses but lack money to shop ethically August 19, 2021 London consumers feel strong negative emotions about fashion industry exploitation, and that they want the industry cleaned up so they can enjoy shopping without guilt. More than two-thirds (68 per cent) of Brits taking part in a new survey that was shared with City A.M. felt either ‘disgusted’ ‘sad’ or ‘angry’ about the fact that [...]
DaBaby’s Boohoo deal in doubt after rapper’s homophobic rant at concert leads to backlash July 27, 2021 FTSE-listed online fashion giant Boohoo has today swiftly condemned an onstage rant by one of it’s fashion line colab partners, DaBaby, as it mulls ditching the rapper from its stable of stars that hawk its clothing lines. DaBaby, a US rapper who features on the Due Lipa US top 10 hit Levitating, has a fashion [...]
Boohoo to bolster Debenhams stores and e-commerce sites in the Middle East July 14, 2021 Boohoo, which bought Debenhams for £55m, has partnered with the Alshaya group to bolster the ex-high street staple’s presence in the Middle East. Kuwait-based Alshaya, which currently run Debenhams stores in shopping malls, will have exclusive rights to operate the Debenhams stores and local e-commerce sites in Kuwait, Saudi Arabia, UAE, Bahrain, Egypt, Oman and [...]
Boohoo’s Carol Kane staves off investor revolt at AGM to win overwhelming shareholder backing June 18, 2021 Boohoo co-founder Carol Kane has avoided a feared investor revolt to oust her as a director today, instead winning overwhelming shareholder support. Some 88 per cent of Boohoo shareholders voted in favour of Kane continuing in her role as an executive director at the company at today’s general meeting. Prior to the AGM, there were [...]
Debenhams could return to the high street to land beauty deals for Boohoo June 16, 2021 Boohoo is reportedly in talks about opening a Debenhams store to land deals with beauty and cosmetic brands that want to operate with a physical presence. Boohoo chief executive John Lyttle told The Times that if the talks came to fruition one small Debenhams store would return to a high street just outside of London. [...]
Boohoo takes tough stance on suppliers following Leicester factory scandal June 15, 2021 Boohoo has taken a tough stance with its suppliers that includes removing them from the online retailer’s supply chain list if an alert is raised about them. Boohoo has set up a sub-committee of its Supply Chain Compliance Committee that will focus on the financial practices of the businesses and now requires suppliers to have [...]
Fossil fuel fashion: half of clothing made from non-recycled plastic, think tank says June 11, 2021 Half of fast-fashion items sold by online brands like Boohoo and Missguided, are made solely from non-recycled plastics, a think-tank has said today. Think tank Royal Society of Arts, Manufactures and Commerce (RSA) urged the government to impose a new tax on such clothing made from non-recycled plastic like polyester. Income from the suggested clothing [...]