British online retailer boohoo Group’s revenues in the first quarter of the current financial year grew 45% year-on-year, totalling £367.8 million. This has been driven by strong underlying growth across boohoo, prettylittlething.com and Nasty Gal brands. The group’s newest brands – MissPap, Karen Millen and Coast – are also trading well.
In addition, the group has announced its acquisition of online businesses of two UK-based fashion-forward brands, Oasis and Warehouse, for £5.25 million in cash from Hilco Capital Limited.
“During unprecedented and challenging times, the group has delivered a very strong trading and operational performance. I am proud of how our colleagues and business partners from around the world have responded to ensure that we can safely bring to our customers the latest fashions, great value, fantastic prices and best-in-class service. Whilst there is a period of uncertainty within the markets in which we operate, the group is well-positioned to continue making progress towards leading the fashion e-commerce market globally,” said John Lyttle, CEO, boohoo group plc in an official statement.
During the current financial year ending on February 28, 2021, the boohoo Group expects to deliver strong profitable growth, continuing to invest in infrastructure and operations.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Union Coop, a consumer cooperative in the UAE, revealed that 78% of
Union Coop has opened its 23rd branch within the UAE in Jumeirah
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
Giordano has announced the opening of its first concept store at Zahia
Saudi-based luxury retailer, AlMalki Group recently revealed the key elements that is
Gentle Monster has announced the opening of the brand’s second flagship store in
JD Sports Fashion has announced the appointment of Bert Hoyt as its
Every element of the retail landscape has been forced to undergo drastic
Online retail giant, Amazon has announced plans to open department stores in
Fawaz Abdulaziz Alhokair Co., the leading franchise retailer in Saudi Arabia, today
adidas has announced that it will sell Reebok to Authentic Brands Group
The Ministry of Human Resources and Social Development in Saudi Arabia has
Tommy Hilfiger, owned by PVH Corp, has announced a six-store retail expansion
Adidas has opened its first store wholly dedicated to women at the