Karen Millen news and archive

Boohoo posts revenue and profit decline in FY24

Boohoo Group GMV was down 13 percent to 1,809 million pounds for the fiscal year 2024, as group performance continued to be impacted by a difficult macroeconomic environment. The company said that revenue for the year of 1,461 million pounds, declined 17 percent reflecting increased focus on profitability and difficult market conditions. Boohoo...

BusinessFeatured

Timeline: Behind Boohoo’s boulevard of broken promises

By now, the ongoing controversies surrounding Boohoo’s supply chain are no secret. The past five years in particular have seen a period of turbulence take hold over the company’s production process, as mounting investigations slowly unveil the slew of seemingly broken promises made by the company to fix what it repeatedly says has not been...

Fashion

Karen Millen returns to the brand she founded for a capsule collection

Karen Millen, the British fashion designer and founder of the Karen Millen brand, has returned to her namesake label after nearly two decades. The designer has collaborated with the brand's new creative team to launch a one-off capsule collection that pays homage to the brand's evolution from its inception in the 1980s to the present day. The...

Retail

Karen Millen to open a pop-up store in London

Karen Millen is to open its first physical retail space since 2019 with a pop-up shop in central London in March. The pop-up will be located at 6-10 Great Portland Street, London, and will be open from March 3 to 5, showcasing Karen Millen’s latest collections, from workwear to occasionwear, as well as a selection of its curve, petite and tall...

Fashion

Karen Millen launches rental service

Womenswear brand Karen Millen, part of the Boohoo Group, has launched its own fashion rental offering powered by My Wardrobe HQ (MWHQ). Karen Millen Rotates allows customers to rent more than 40 styles from four to fourteen days in UK sizes 6-16, from eveningwear to luxe tailored designs including dresses, jumpsuits, trousers and coats. The...

Fashion

Karen Millen partners with reselling service Thrift+

High street fashion brand Karen Millen has partnered with resale service Thrift+. Thrift+, a company founded to make the charity shopping experience as good as the best online clothes retailers, helps to clear out consumer wardrobes with a hassle-free service to recirculate garments. Karen Millen in a statement said each time something is...

BusinessFeatured

Boohoo issues profit warning as consumer demand slumps

For the six months to August 31, Boohoo Group’s net revenue declined 10 percent to 882.4 million pounds amid “macro-economic headwinds facing both consumers and businesses”. The company said it expects for a similar rate of revenue decline to persist over the remainder of the financial year if the “current conditions” continue. Boohoo now...

Business

Boohoo names Shaun McCabe as new CFO

Boohoo has announced the appointment of Shaun McCabe as chief financial officer (CFO). McCabe, the company said in a statement, is expected to take up his new role later this year and will succeed Neil Catto whose role will transition to an executive director, remaining on the group board, with responsibility for strategic projects. Commenting...

BusinessFeatured

Boohoo revenues decline

Boohoo Group has reported an 8 percent year-over-year drop in revenue to 445.7 million pounds in the first quarter of the year, which it said was in line with expectations and against a strong prior year performance linked to lockdowns. Revenues increased 75 percent over the three-year pre-pandemic period. Commenting on the quarterly...

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Boohoo forecasts flat sales growth in H1 2023

Boohoo Group Plc recorded a revenue increase of 14 percent reported and currency adjusted to 1.983 billion pounds in the year to February 28, 2022. Revenue over the two-year period increased by 61 percent from 1.235 billion pounds in 2020, at a time when apparel markets globally remain below pre-pandemic levels. The company said that the trends...

BusinessFeatured

Boohoo delivers sales growth in line with forecast

Boohoo Group has delivered net sales growth in the fourth quarter of 7 percent and full year increase of 14 percent, in line with guidance. In the fourth quarter, gross sales growth was 26 percent versus last year and 57 versus two years ago. The company said the net sales growth in the quarter was impacted by higher returns rates year on year...

BusinessFeatured

Boohoo lowers full year forecast

Boohoo Group witnessed gross demand growth in the third quarter compared to the first and second quarters of the financial year, however the company said, expectations for the financial year ending February 28, 2022 will be lower than previously guided. Commenting on the third quarter trading and outlook, John Lyttle, Boohoo Group CEO, said: “...