Slow fashion: Zara introduces return fee as customers ‘count every penny’ May 12, 2022 Zara has started charging customers who return items bought online as fast fashion giants face increasing pressure to reduce unsustainable behaviour. The retailer, owned by the world’s largest fashion company Inditex, has introduced a £1.95 fee for the return of products at third party drop off points. However, customers can still return online orders at [...]
Boohoo woes: Shares collapse as customers return more clothes than expected May 4, 2022 Boohoo faces further woes as the online retailer’s shares plunged after it admitted that consumers were returning items more than expected. Supply chain hang-ups have also led to longer delivery times, to the detriment of the Boohoo’s international proposition, it said on Wednesday. The beleaguered fashion firm recorded a revenue jump of 14 per cent [...]
Made in Britain: As Brexit and Covid dismantle supply chains, boom in ‘reshoring’ leads to renaissance in UK manufacturing April 18, 2022 sAs the government admitted last week that there are ‘significant challenges’ to UK stock levels because of Brexit and Covid, is reshoring then perhaps the answer? Last week’s government report, from the Office for National Statistics (ONS), revealed the full extent of tumbling stock levels and broken global supply chains in the wake of Brexit and [...]
Fast fashion: Shein raising funds at £100bn after IPO plans delayed amid Russia conflict April 3, 2022 Chinese fast fashion retailer Shein is reportedly eyeing a funding round at a valuation of some $100bn. The Gen Z e-commerce giant is in talks with potential investors to raise around $1bn, according to a report from Bloomberg, citing people familiar with the matter. Bosses are still mulling over the plans, with potential for details [...]
Investors pile into bets against Cineworld as it tops list of most shorted stocks March 31, 2022 Investors have piled into bets against UK cinema firm Cineworld to make it the UK’s most shorted company, new data has revealed.
Higher return rates impact Boohoo’s sales growth March 10, 2022 Boohoo said today its net sales growth in the fourth quarter of FY22 was impacted by Brits’ post-pandemic ‘buy before you try attitude’ . The company explained that the higher rate of items returned was due to changing consumption patterns, as people shifted from buying more ‘athleisure’ during the pandemic to mixing it up with [...]
The City View: US and UK boycott Russian oil, and Susannah Streeter and Michael Hewson on inflationary pressure March 8, 2022 Today Andy Silvester sits down for a chat with Hargreaves Lansdowns’ Susannah Streeter and CMC Markets’ Michael Hewson. They discuss trading being suspended on the London Metal Exchange after a record price spike in nickel; the Bank of England assessing inflationary pressures; and a whole mélange of financial woes for Brits as energy bills, taxes, [...]
‘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 [...]
Zara and Burberry shut shops in Russia while John Lewis looks to ‘mitigate exposure’ to country March 6, 2022 Fashion powerhouses have halted trading in Russia following its invasion of Ukraine, citing “operational challenges”. Luxury goods maker Burberry has temporarily shuttered its three stores in Russia, The Times reported. According to the newspaper, the designer brand’s spokesperson said Burberry would continue to monitor developments and declined to address the invasion directly. It comes after [...]
Fashion retailers Boohoo and ASOS suspend sales to Russia in solidarity with Ukraine as M&S suspends shipments March 3, 2022 Fast fashion retailer Boohoo has become the latest firm to announce it has suspended sales of clothes to Russia. The Manchester-based e-commerce business joins brands such as Asos and Next, as well as designer names such as Burberry, in making a stand. In a update published on the London Stock Exchange, Boohoo said it was [...]