Boohoo Group PLC news and archive

Boohoo revenue and profit decline, announces fund raising plan

In an interim results announcement for the six month period, Boohoo said revenue of 619.8 million pounds, declined by 15 percent reflecting difficult market conditions. The company added that the revenue growth was also impacted by the continued growth of the marketplace with its commission-only revenue model. Boohoo also announced a proposed...

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Boohoo appoints Dan Finley as chief executive

British online fast-fashion giant Boohoo has named Dan Finley as the group’s chief executive officer, defying major shareholder Frasers Group to install its owner Mike Ashley at the helm. In a statement, Boohoo said Finley, formerly of JD Sports and currently CEO of Debenhams, will take up his new role with immediate effect, succeeding John...

Business

Boohoo Group launches strategic review, CEO John Lyttle resigns

Following five years with the business, Boohoo Group CEO John Lyttle has decided to stand down and will remain with the company until a successor is found. The company also announced the signing of a new 222 million pounds debt financing agreement and undertaking of a review of options for each division to maximise shareholder value. Commenting...

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BoohooMan launches premium sub-brand with rapper Gunna

BoohooMan, the pure-play online shopping destination for young men, is launching its first-ever premium sub-brand and fashion collaboration with American rapper, singer, and songwriter Gunna in June. The streetwear sub-label is called ‘P by Gunna’ and draws inspiration from the rapper’s everyday wardrobe. Gunna, who rose to fame with his third...

BusinessFeatured

Boohoo projects FY24 revenues to decline between 12 to 17 percent

For the six months to August 31, 2023, Boohoo Group revenue of 729.1 million pounds, declined 17 percent versus last year, with UK down 19 percent and international down 15 percent. Revenues in core brands declined 10 percent. Gross margin at 53.4 percent, was up 90 bps, adjusted EBITDA was 31.3 million pounds with adjusted EBITDA margin of 4.3...

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PrettyLittleThing confirms collaboration with Naomi Campbell

Fast fashion online retailer PrettyLittleThing has confirmed it is launching a fashion collaboration with supermodel Naomi Campbell. In a short statement, PrettyLittleThing, part of the Boohoo Group, said its new exclusive collection with Campbell would “intertwine the essence of PLT with Naomi’s unique style, promising a fashion experience like...

Business

Boohoo to vote against Revolution Beauty board directors

Boohoo, the beneficial owner of approximately 26.6 percent stake of Revolution Beauty Group plc, has decided to vote against the reappointment of latter's board directors Bob Holt, Derek Zissman, and Elizabeth Lake at the upcoming AGM on June 27, 2023. Boohoo will propose appointments of Alistair McGeorge and Neil Catto as directors on...

Business

Boohoo appoints Alistair McGeorge as independent non-executive director

Boohoo has appointed Alistair McGeorge to the company’s board as an independent non-executive director, with effect from March 31, 2023. McGeorge, the company said in a statement, succeeds Brian Small as the group's deputy chairman and will act as interim chair of the audit committee. McGeorge is also a member of the remuneration, nomination,...

Business

Boohoo's growth, an analyst's perspective

This week online fashion giant Boohoo posted record revenue over 1 billion pounds, beating estimates for what was an outstanding first half. Steve Miley, a senior market analyst at www.asktraders.com told FashionUnited celebrity endorsements from the likes of Jordyn Woods played a big role in the bump in revenue. "Over the 6 months to 31 August...