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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Oct- 2024 -24 OctoberClothing & Shoes
Frasers calls for Boohoo to appoint Mike Ashley as CEO
Frasers Group has called on Boohoo to appoint its founder Mike Ashley as director and CEO of the struggling online company, after slamming the “continued incompetence” of the current Boohoo board amid an “abysmal” trading performance. In an open letter to Boohoo, Frasers urged the company to remove outgoing CEO John…
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21 OctoberFeatures
What does Shein’s potential IPO mean for the company and its competitors?
Chinese fast-fashion retailer Shein has reportedly been mulling launching an Initial Public Offering (IPO) on the London Stock Exchange for the past year. This float would be the first time the company has been publicly listed anywhere in the world and would represent a large moment in the retail space.…
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18 OctoberNews-In-Brief
Today’s news in brief-18/10/24
Boohoo’s CEO, John Lyttle, is stepping down after five years, as the company embarks on a strategic review and secures a £222m debt refinancing deal. The retailer’s new debt facility includes a £125m revolving credit line and a £97m term loan, aimed at supporting future development. The announcement follows a…
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18 OctoberClothing & Shoes
Boohoo CEO to leave amid strategic review and new debt deal
Boohoo has announced that its CEO John Lyttle is set to step down after five years in the role. He will continue to work with the leadership team and board over the coming months whilst a successor is found. It comes as the retailer has secured a £222m debt refinancing…
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9 OctoberNews-In-Brief
Today’s news in brief-9/10/24
Shein’s UK arm reported robust financial results for 2023, with revenues climbing 38% to £1.55bn and pre-tax profits doubling to £24.4m. These figures surpass rival Boohoo’s latest annual revenues. The company also announced plans for an IPO in London, pending regulatory approval, to capitalise on its growth momentum and expand…
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9 OctoberClothing & Shoes
Shein’s UK profits double as sales hit £1.55bn in 2023
Shein’s UK arm has seen revenues rise by 38% to £1.55bn in the year ended 31 December 2023, up from £1.12bn the prior year.Meanwhile, pre-tax profit doubled from £12.2m to £24.4m over the year, according to new filings on Companies House. In the latest accounts for Shein Distribution UK Ltd,…
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Sep- 2024 -30 SeptemberNews
Today’s news in brief-30/9/24
Boohoo is reportedly considering a break-up of its business, following pressure from shareholders to revive the company’s declining fortunes. Boohoo’s share price has dropped by over 85% in the last five years, and the company has faced widening losses. The board is said to be contemplating spinning off its core…
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30 SeptemberClothing & Shoes
Boohoo considers break-up of business
Boohoo bosses are reportedly mulling a break-up of the company after shareholders have pressured the group to revive the business. According to The Times, a number of shareholders at the online retailer are understood to have urged the board to break up the group and spin off its core brands…
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11 SeptemberNews
Today’s news in brief-11/9/24
In July 2024, the UK economy saw no growth for the second consecutive month, failing to meet analysts’ expectations of a 0.2% expansion. The stagnant performance was largely due to mixed results across different sectors. The services sector recorded a slight 0.1% increase, primarily driven by a strong recovery in…
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11 SeptemberClothing & Shoes
Boohoo shifts US fulfilment operations to UK
Boohoo is set to shut its US distribution centre and instead fulfil its stateside orders from its automated distribution centre in Sheffield. The retailer previously supplied its US customers from a distribution centre in Pennsylvania. The decision to shift US fulfilment operations to the UK comes as the group looks to…
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