Superdry founder Dunkerton calls for investor support amid plan to ‘supercharge’ firm March 14, 2019 Exiled Superdry founder Julian Dunkerton has written to shareholders urging them to vote him back onto the board as he outlined a plan to “supercharge” the company. Dunkerton, who left the firm in March last year, pledged to return the company to revenue growth, restore double-digit earnings margins and rebuild profitability within three years if he [...]
Superdry urges investors to vote against founder Julian Dunkerton’s return March 11, 2019 Superdry will hold a shareholder meeting on 2 April to vote on the reinstatement of Julian Dunkerton after months of rising tensions between the founder and the board. The fashion retailer confirmed the meeting in a circular sent to shareholders this morning, but urged them to vote against the reappointment of Dunkerton. Read more: Hundreds of [...]
MPs urge government to slap penny tax on new clothes in bid to cut fashion industry waste February 19, 2019 An influential group of MPs has called for a 1p tax on new clothes in a bid to tackle consumer waste within the fashion industry. The penny tax, which would be levied on every new item of clothing sold by Britain’s retailers, has been proposed this morning by the cross-party Environmental Audit Committee to raise [...]
Superdry braced for clash with founder Julian Dunkerton as third quarter results loom February 3, 2019 Superdry is gearing up for a clash with former boss Julian Dunkerton if it fails to impress investors with its third quarter results later this week. The fashion retailer is braced for further dispute with co-founder Dunkerton, who has been campaigning to return to the company amid a series of profit warnings and a sharp [...]
Advertising watchdog issues ultimatum to retailers over faux fur January 17, 2019 The advertising watchdog has issued an ultimatum to retailers to ensure products they advertise as fake fur do not contain real fur. UK retailers have until 11 February to ensure their adverts are accurate, according to the Committee of Advertising Practice (CAP), which draws up advertising regulations. CAP warned firms may face sanctions if they [...]
Boohoo shares drop despite retailer lifting 2019 guidance after strong sales growth January 15, 2019 Boohoo had no cause for tears this morning as it revealed rocketing revenue helped it end 2018 on a high, raising guidance for its full-year sales. Sales grew 44 per cent year on year to £328.2m in the four months to the end of December, up from £228.2m in the same period in 2017. Read [...]
Profiting from the retail revolution: What’s hot and what’s not? January 15, 2019 It turns out that so-called Super Thursday wasn’t so super after all. Despite being lauded as a day when retailers boast strong figures from the festive period, last Thursday proved to be a mixed basket of results. With consumers feeling the pinch and Brexit-sized uncertainty looming large over the high street, it’s not surprising that [...]
City focuses on Boohoo as online giant hopes to defy retail gloom January 13, 2019 Online fashion giant Boohoo looks set to defy the gloom hanging over Britain’s retail industry later this week when it is expected to post another quarter of sharp sales growth. The City will be turning its attention towards the e-commer giant to see whether its festive fortunes were enough to buck a current trend of dismal [...]
Boohoo broke rules by advertising real fur as fake, ASA says January 9, 2019 Boohoo has been warned by the Advertising Standards Agency (ASA) after the online retailer was caught advertising a product containing real fur as faux fur. Humane Society International (HSI), which submitted the complaint, claimed that pom poms on a jumper sold by the site contained real fur, rather than fake fur as advertised. Read more: [...]
DEBATE: Is the Asos profit warning a sign that online retailers face the same challenges as the high street? December 18, 2018 Is the Asos profit warning a sign that online retailers face the same challenges as the high street? Scott Guthrie, a digital strategy consultant, says YES. Online retailers have previously appeared immune to the hardships faced by their high street rivals. Yet there are many marketplace similarities between the two opposing business models – especially in [...]