Boohoo
This coverage tracks Boohoo’s position and performance in the UK fashion retail market, focusing on financial results, leadership moves, sustainability initiatives, marketing and expansion strategy. With analysis tailored to brand managers, retail executives and strategists, the reporting examines how Boohoo navigates fast-fashion challenges and compliance demands to maintain competitiveness.
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Nov- 2023 -6 NovemberNews
UK retailers join forces to sign Wrap’s Textiles 2030 initiative
More than 30 retailers have signed up to Wrap’s Textiles 2030 initiative to reduce the carbon impact of the textiles they produce. Textiles 2030 was launched last year by climate action NGO Wrap, which stands for Waste & Resources Action Programme, in an effort to accelerate the UK fashion industry…
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6 NovemberAnalysis
Can Asos turn around its spiral into widening losses?
If Asos’ estimations are correct, the online fashion retailer will be facing its second year of falling sales as big as 5% to 15% in FY24. Business has looked bleak for the retailer, and as of 3 September, its loss-before-tax widened to £296.7m, UP from a loss of £31.9m in…
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3 NovemberNews
Today’s news in brief-3/11/23
In October, footfall in the UK dropped by 5.7% year-on-year, with high streets experiencing a 4.6% decrease, compared to a -1.7% in September. Retail parks and shopping centres also saw declines of 4.3% and 7.3% respectively. England had the smallest drop at 5.3%, followed by Scotland at 1.4%, Wales at…
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Oct- 2023 -25 OctoberNews
Today’s news in brief-25/10/23
Asos has pushed back the release of its FY23 results to 1 November 2023, citing the need for its auditor, PwC, to complete planned testing. PwC has assured that the outstanding procedures are of limited scope. Asos confirmed its performance up to 3 September 2023 aligns with the post-close trading…
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25 OctoberClothing & Shoes
Frasers Group ups Boohoo stake to 16.5%
Mike Ashley’s Frasers Group has once again increased its stake in online retailer Boohoo and now holds a 16.5% share in the business. It has upped its stake from 15.1% and now holds a total number of voting rights of 209,319,058. Frasers first purchased a 5% stake in the online…
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20 OctoberNews
Today’s news in brief-20/10/23
The Office for National Statistics (ONS) revealed a 0.9% decline in retail sales for September, following a 0.4% rise in August 2023. Over the quarter, sales volumes dropped by 0.8% compared to the previous three months. Non-food store sales were particularly affected, with a 1.9% decrease in September, attributed to…
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20 OctoberHigh Street
Frasers ups Asos stake again to 23%
Frasers has again upped its stake in Asos to 23%, as it continues its investment in a number of UK fashion retailers. Frasers has increased its holding in the online retailer a number of times throughout this year and currently holds 27,473,492 Total number of voting rights. It tops a…
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16 OctoberNews
Today’s news in brief-16/10/23
Next has finalised the acquisition of FatFace for £115.2m, with a portion of the payment made in cash and the remainder in Next’s shares. Following the transaction, Next will hold 97% of the equity, while FatFace’s management will retain 3%. FatFace will continue to operate autonomously with its own board…
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16 OctoberClothing & Shoes
Frasers ups stake in Boohoo to 15.1%
Mike Ashley’s Frasers Group has upped its stake in Boohoo to 15.1% as it continues investing in a number of UK fashion retailers. The news comes after Frasers increased its holding from 10.4% to 13.4% last week. It now holds 191,808,425 voting rights in the company. The group had previously…
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9 OctoberNews
Today’s news in brief-09/10/23
Frasers Group CEO Michael Murray has announced a significant shift away from the traditional department store model for House of Fraser. Murray aims to “rethink the space” by incorporating Frasers Group’s own brands and potentially phasing out the House of Fraser brand altogether. This transformation seeks to address previous issues,…
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