Boohoo broke rules by advertising real fur as fake, ASA says January 9, 2019 Boohoo has been warned by the Advertising Standards Agency (ASA) after the online retailer was caught advertising a product containing real fur as faux fur. Humane Society International (HSI), which submitted the complaint, claimed that pom poms on a jumper sold by the site contained real fur, rather than fake fur as advertised. Read more: [...]
Do not succumb to the ‘Fat Cat Friday’ outrage January 3, 2019 As if Greggs’ vegan sausage rolls hadn’t prompted enough misplaced shock and outrage for the start of a new year, you can expect more of the same this morning when campaigners declare it to be “Fat Cat Friday”. The High Pay Centre, which opposes current levels of executive remuneration, calculates that by this afternoon a [...]
DEBATE: Is the Asos profit warning a sign that online retailers face the same challenges as the high street? December 18, 2018 Is the Asos profit warning a sign that online retailers face the same challenges as the high street? Scott Guthrie, a digital strategy consultant, says YES. Online retailers have previously appeared immune to the hardships faced by their high street rivals. Yet there are many marketplace similarities between the two opposing business models – especially in [...]
Laura Ashley shares fall as it prepares to shutter 40 UK stores in fresh growth strategy December 17, 2018 British fashion retailer Laura Ashley is preparing to close 40 more stores in the UK, as it looks eastward for further business growth. The home furnishings chain, which is owned by Malaysian United Industries (MUI), has closed around 40 stores to date since 2015, and is set to double that. MUI's freshly appointed executive chairman [...]
Asos shares nosedive after it warns on bleak pre-Christmas trading December 17, 2018 Shares in Asos fell more than 35 per cent this morning after it warned of a “significant deterioration” in its pre-Christmas trading. The online retailer reported sales growth of 14 per cent in the three months to the end of November. But the company said it had seen the “weakest growth in online clothing sales [...]
Boohoo countdown promotions broke advertising rules, says ASA December 5, 2018 Online fashion retailer Boohoo misled customers by using a fake countdown clock, according to the Advertising Standards Agency (ASA). The advertising watchdog said Boohoo broke its rules by using false time limits, putting customers under unnecessary pressure to make purchases. Boohoo’s promotions used a countdown clock offering shoppers discounts if they bought items before a deadline. But an [...]
City veterans launch new corporate finance boutique November 19, 2018 A former board member of investment bank Zeus Capital is today launching a corporate finance boutique alongside a senior executive from Nex Exchange. The new firm, Guild Financial Advisory, will advise companies on initial public offerings (IPOs), fund raising, deals and corporate governance. Its chief executive Ross Andrews previously spent eight years with Zeus where he [...]
Golden quarter could bring Christmas cheer to struggling British retailers November 9, 2018 Retailers might find seasonal cheer in an early Christmas present as experts predict a strong final quarter to the year. Sales in the sector are expected to tick up by two per cent year-on-year, according to analytics company Global Data. The increase will be driven by food and groceries, which are expected to grow 2.5 [...]
Thousands of stores fall off high street as retail woes worsen November 9, 2018 Fresh evidence of the retail woes facing Britain’s shopkeepers emerged this morning, with more than 2,500 stores vanishing from the high street over the first six months of this year. Some 14 stores have closed every day in the first half of 2018, as stiffer competition and higher costs make the retail struggle for survival [...]
Boohoo shares soar as sales nearly double after “exceptional performance” from PrettyLittleThing November 6, 2018 There may be ongoing high street pain for a number of retailers, but online troubles are few and far between for fashion chain Boohoo. It hailed "an exceptional performance" from PrettyLittleThing, which it has been integrating into the Boohoo group, while its acquisition of US fashion label Nasty Gal exceeded estimates in its first year. [...]