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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Aug- 2024 -19 AugustClothing & Shoes
Boohoo in dispute with suppliers over poor stock quality
Boohoo and its suppliers are reportedly in a dispute over claims the fast fashion group has received a significant amount of defective stock and is therefore withholding payments, The Telegraph has reported. It is understood that the fashion group is refusing to pay the outstanding fees until the issues are…
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Jul- 2024 -30 JulyNews
Today’s news in brief-30/7/24
Andrew Keith, CEO of Selfridges, has announced his departure to pursue new ventures, marking the end of his tenure characterised by navigating challenges including the pandemic and ownership changes. André Maeder will succeed him as CEO of Selfridges Group in the UK, focusing on innovation and customer experience amid potential…
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30 JulyClothing & Shoes
Boohoo hires advisers amid refinancing talks
Boohoo lenders have allegedly hired advisers to discuss refinancing options to tackle its £325m debt wall and losses. According to Bloomberg, creditors have hired FTI Consulting Inc to deal with the refinancing as Boohoo is also working with bankers at Rothschild and Co. The retailer’s latest annual report shows that…
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26 JulyNews
Today’s news in brief-26/7/24
Boohoo has introduced “Boohoo Brands” a new marketplace featuring over 200 labels including luxury brands like Alexander McQueen and Gucci. This move aims to consolidate its position as a leading fashion and lifestyle destination, leveraging partnerships to enhance customer choices. THG plans to cut 171 jobs across multiple divisions while…
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26 JulyOnline & Digital
Boohoo launches new marketplace Boohoo Brands
Boohoo has announced the launch of its new marketplace, Boohoo Brands, as it aims to become “a one-stop destination for all fashion, beauty, and lifestyle needs”. The brand has already onboarded 200 labels, including accessories from Alexander McQueen, Balenciaga, Gucci and Valentino, clothing from Off White and Urban Bliss, footwear…
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May- 2024 -29 MayNews
Today’s news in brief-29/5/24
Retail sales in the UK have seen their fastest growth since December 2022, according to the CBI Distributive Trades Survey. Sales volumes jumped by 8% in May, even as selling price inflation eased significantly to its lowest since August 2020, falling from 54% in February to 20%. Despite this improvement,…
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29 MayClothing & Shoes
Boohoo ditches £1m exec bonus plan after shareholder backlash
Boohoo has announced that it has decided to withdraw from paying its top executives bonuses worth £1m after it received backlash from shareholders for awarding millions of pounds in bonuses to executives despite widened losses. It comes as some shareholders criticised Boohoo’s plan to hand co-founders Mahmud Kamani and Carol…
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28 MayNews
Today’s news in brief-28/5/24
Shop price inflation has returned to normal levels, with the British Retail Consortium (BRC) reporting a decrease in annual shop price inflation from 0.8% in April to 0.6% in May. This marks the lowest rate since November 2021 and is below the three-month average rate of 0.9%. Non-food items remained…
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28 MayClothing & Shoes
Boohoo shareholders to revolt over exec bonuses
Boohoo is facing a backlash from its investors after awarding millions of pounds in bonuses to executives despite widened losses, The Sunday Times has reported. The fast-fashion group will reportedly face a shareholders revolt at its annual general meeting next month over proposals for a new long-term incentive scheme. According to…
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10 MayNews
Today’s news in brief-10/5/24
The UK economy has emerged from recession with a growth of 0.6% in the first quarter of 2024, surpassing economist expectations. This growth was primarily driven by consumer-facing services, which expanded by 0.6% after a decline in the previous quarter. Notably, retail trade played a significant role in this recovery,…
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