Fast fashion firms Asos and Missguided call for action on UK worker exploitation July 20, 2020 Fast fashion retailers Asos and Missguided have called for urgent government action over the exploitation at UK clothing factories, after rival e-commerce firm Boohoo was embroiled in a scandal over the treatment of workers in Leicester. In a letter to home secretary Priti Patel, a group of retailers, MPs and investors, including Allianz Global Investors, [...]
Boohoo launches independent review of supply chain after Leicester factory claims July 8, 2020 Fast fashion retailer Boohoo suffered a further share price drop this morning after it launched an independent review of its UK supply chain following allegations of poor working practices and underpayment of workers at a clothing factory in Leicester. Boohoo this morning said it was “shocked and appalled” over the allegations that the Jaswal Fashions [...]
Boohoo shares continue to fall after Leicester factory worker exploitation claims July 7, 2020 Shares in fast fashion brand Boohoo plunged for the second day in a row following allegations that workers at the retailer’s factory in Leicester were paid illegally low wages. The e-commerce retailer’s shares plummeted more than 13 per cent this morning to 255.5p, after falling more than 18 per cent yesterday. The losses came after [...]
Boohoo buys Oasis and Warehouse as revenue rockets in lockdown June 17, 2020 Boohoo beat revenue expectations despite other retailers’ lockdown pain today as it confirmed a cut-price purchase of Oasis and Warehouse’s online divisions. The digital fashion retailer has thrived in lockdown, seeing revenue jump 45 per cent to £367.8m in the three months to May. And it also confirmed a £5.25m purchase of the online businesses [...]
Boohoo set to swoop for bankrupt Oasis and Warehouse June 16, 2020 Online fashion giant Boohoo is set to announce the purchase of high street brands Oasis and Warehouse, which went bankrupt at the end of April. Sky News reported that the deal could be announced tomorrow when Boohoo releases its first quarter results. When the two brands collapsed into administration on 30 April, with 1,803 redundancies, [...]
Fast fashion retailer Boohoo hit by short-seller attack May 27, 2020 Fast fashion retailer Boohoo today denied allegations that it had misled investors following a short-seller attack that saw its share price plunge more than 12 per cent. In a statement this morning the online retailer said it “strongly refutes the allegations” made in a report published yesterday. “Boohoo…notes the recent decline in its share price [...]
Boohoo raises £198m as fashion retailer eyes acquisitions May 15, 2020 Fast fashion retailer Boohoo has raised £198m as it seeks to take advantage of the coronavirus crisis to snap up global brands. Boohoo, which raised the funds through a share placing announced last night, said it would use the proceeds to “take advantage of numerous opportunities that are likely to emerge in the global fashion [...]
Boohoo hikes guidance after ‘record’ quarter January 14, 2020 Boohoo raised its full-year guidance this morning as it reported record trading during the final quarter of last year. The online fashion retailer’s shares jumped more than five per cent after it announced group revenue in the four months to 31 December was £473.7m, an increase of 44 per cent compared to the same period [...]
International growth boosts Boohoo profit September 25, 2019 Boohoo revenue and profit soared in the first half of the year driven by strong international growth at the fast fashion brand. The figures Revenue soared 43 per cent from £395.3m in the first half of 2018 to £564.9m in the first six months of this year. The company’s revenue was more than £1bn over [...]
Boohoo shares soar as online retailer boosts full-year guidance September 5, 2019 Shares in online retailer Boohoo soared to an all-time high this morning after the fast fashion firm increased sales growth guidance for the year. Boohoo’s share price was up 15.37 per cent to 280.7p after the company announced sales growth would be between 33 per cent and 38 per cent, against previous guidance of 25 [...]