Fashion brands told to ‘stay on the right side of the law’ amid greenwashing claims September 18, 2024 Some of the most high-profile fashion brands in the UK have been warned to be clearer on their green credentials by the UK competition watchdog as it clamps down on misleading marketing. The Competition and Markets Authority (CMA) has issued a new sustainability compliance guide for retailers and told 17 brands to review their practices. [...]
Boohoo makes major US change in bid to broaden appeal September 11, 2024 Boohoo has announced significant changes to its operations in the US market as it looks to broaden its product offering across the Atlantic. The Manchester-headquartered group will stop supplying US customers from its distribution centre in Pennsylvania, as the company’s management look at ways to drive a more sustainable and profitable business. Orders will instead [...]
How retailers like ASOS, H&M and Zara are fighting back against ‘serial’ returns September 3, 2024 ASOS has become the latest retailer to change their returns policy as firms increasingly try to fight back on costly high-frequency takebacks – as well as outright fraud. In an email to its premier and non-premier members, the popular fashion giant shared that it would be updating its Fair Use Policy foe “select customers” in [...]
Mike Ashley’s Frasers Group ups stake in Boohoo after shares slump September 2, 2024 Mike Ashley’s retail empire Frasers Group has further increased its stake in fast fashion giant, Boohoo. The Mansfield-headquartered group now holds 26.1 per cent of the shares in Boohoo, up from 25 per cent, according to a newly-filed document with the London Stock Exchange. Frasers Group, which owns the likes of Sports Direct and House [...]
Revolution Beauty back in the black despite weak online sales June 26, 2024 Cosmetics brand Revolution Beauty has clawed its way out of the red as high sales in the rest of the world help offset its poor performance in the US.
Boohoo hit with investor lawsuit over alleged mistreatment of Leicester workers June 5, 2024 Fast-fashion giant Boohoo has been hit with an investor lawsuit in the UK after reports alleging its suppliers were mistreating workers caused its share price to plummet in 2020.
Boohoo abandons £1m bonuses for top execs after shareholder backlash May 28, 2024 The top bosses at fast fashion giant Boohoo will now not receive bonuses of £1m after shareholders reacted angrily to the plans.
Boohoo shareholders ‘furious’ at ‘outrageous’ boss bonuses May 27, 2024 Shareholders at Boohoo Group will reportedly revolt over a decision to hand top bosses one million pound bonuses, despite the company reporting a £160m loss.
Boohoo hands top bosses bumper bonuses despite losses nearing £160m May 23, 2024 The co-founders and chief executive of Boohoo received a £1m bonus despite the fast fashion giant's losses swelling to almost £160m during its latest financial year.
Boohoo struggles continue with earnings and sales down – and losses mounting May 8, 2024 The company said its annual core earnings fell by seven per cent, revenue fell by 17 per cent, and the total value of goods sold fell by 13 per cent, after a tumultuous year in which it made multiple acquisitions.