Boohoo exits 64 Leicester factories over code of conduct breaches following supplier scandal December 16, 2020 Boohoo terminated relationships with more than 60 Leicester suppliers following an investigation into working conditions at garment factories in the city. The fast fashion firm has exited 64 factories following a scandal that found some clothing suppliers in the city were paying workers less than minimum wage. Boohoo’s director of responsible sourcing and product operations [...]
Revolution Beauty: Shake-up of top team gives stability with revenue up 20 per cent November 14, 2023 Troubled make-up brand Revolution Beauty has posted a 20 per cent rise in revenue, as a shake-up of its top team appears to have provided some stability for the brand after a volatile few months. In the six months to August, the cosmetics maker said that adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) [...]
Boohoo profit soars during pandemic despite factory scandal September 30, 2020 Boohoo saw profit rocket more than 50 per cent during the pandemic, as the fast fashion retailer shrugged off a factory scandal earlier in the year that threatened to alienate its customer base. The results Revenue for the six months to the end of August rose 45 per cent to £816.5m, up from £564.9m in [...]
Boohoo and Nike grilled over supply chain links to slave labour in China November 5, 2020 MPs this morning grilled fashion firms, including Boohoo and Nike, over potential supply chain links to slave labour and exploitation in China. The retailers’ sourcing and sustainability bosses were today called in to give evidence to the Business Select Committee, as part of an investigation into the extent to which the products of forced labour [...]
Simply Be and Jacamo owner hopes for a rebound after bumpy few months June 4, 2023 Investors in online retailer N Brown will be looking for signs of recovery in its full year results this week after the firm paid out a hefty legal settlement and has struggled amid a broader slowdown in consumer spending. N Brown, which owns brands such as Simply Be and Jacamo, reported a 7.6 per cent [...]
Administrators make millions from Debenhams’ demise November 14, 2022 Debenhams‘ administrators have made millions in fees since the department store went under in 2020. According to reports from The Times, FRP Advisory has made more than £7.2m in fees since Debenhams filed for insolvency The administrators managed the sale of the store’s brand and website to Boohoo for £55m in January 2021, and documents reveal [...]
Frasers Group acquires fast fashion website I Saw It First after rescuing Missguided July 28, 2022 Mike Ashley’s retail emporium Frasers has inked a deal to acquire fast fashion firm I Saw It First. In an announcement on the London Stock Exchange on Thursday morning, the Sports Direct owner confirmed The Telegraph’s reports that it was to poach the website. I Saw It First was created by Jalal Kamani in 2017, [...]
Missguided sale marks a pivot in Frasers’ strategy – but a Shein deal has risks attached September 18, 2023 News that Frasers could sell Missguided to Shein potentially marks a change in strategy for the Sports Direct owner, which has been highly acquisitive in recent years.
FTSE 100 Close: London finishes in red on fears of stubborn inflation August 31, 2023 London’s FTSE 100 was subdued today on fears of stubborn inflation keeping investors quiet, finishing in the red after being on one of its longest winning streaks in months. The capital’s premier blue-chip index finished 7,452.87, 0.28 per cent down, after spending all day in the green. By 2.30 it was at 7,488.29, about 0.2 [...]
Mike Ashley steps up involvement in Hornby with chief consultancy role March 20, 2024 Mike Ashley has stepped up his involvement in model trains brand Hornby after becoming a consultant to its chief executive.