‘Silent crisis’ for retailers with record online returns – but can fees stop it? Business Online returns are set to top £27bn this year as the ‘silent crisis’ continues to squeeze retailers, with over a fifth of non-food purchases now returned, according to fresh data. With 10 per cent of shoppers accounting for a quarter of all returns, so-called ‘serial returners’ will make up £6.6bn of that figure – with [...]
Shein parks tanks on Boohoo’s lawn as UK sales pass £1.5bn ahead of IPO Retail UK sales at Shein, the Chinese-founded online retailer on track for a bumper IPO on the London Stock Exchange, passed £1.5bn last year, the company has revealed. The division generated a revenue of £1.55bn for 2023, up from the £1.12bn it achieved in 2022. Shein also posted an annual profit of £18.7m, a significant rise [...]
How retailers like ASOS, H&M and Zara are fighting back against ‘serial’ returns Retail ASOS has become the latest retailer to change their returns policy as firms increasingly try to fight back on costly high-frequency takebacks – as well as outright fraud. In an email to its premier and non-premier members, the popular fashion giant shared that it would be updating its Fair Use Policy foe “select customers” in [...]
Boohoo struggles continue with earnings and sales down – and losses mounting May 8, 2024 The company said its annual core earnings fell by seven per cent, revenue fell by 17 per cent, and the total value of goods sold fell by 13 per cent, after a tumultuous year in which it made multiple acquisitions.
The House of Boohoo: Impact of PrettyLittleThing and others on fast-fashion giant’s mounting losses revealed January 27, 2024 Boohoo is never far from the headlines - but the firm's endgame isn't quite as easy to find