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The Latest Breaking News from Boohoo

FTSE 100 ends week in the red as investors look to upcoming Budget

Chancellor Rachel Reeves will deliver the spending statement on October 30, with several tax hikes mooted.

The Independent UK

Boohoo rejects criticism from Frasers Group as ‘inaccurate and unfair’

Frasers Group, which owns 27% of Boohoo, is attempting to install its founder Mike Ashley as chief executive of the online retailer

The Guardian - UK

Boohoo hits back at Frasers over Mike Ashley’s attempted boardroom takeover

Frasers had previously sounded the alarm over what it said was a ‘leadership crisis’ at Boohoo, and sought to install Mr Ashley as chief executive.

The Independent UK

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Boohoo wards off audacious boardroom coup move from Frasers

neither delayed responding to Frasers’ requests for board representation nor ignored them.”

Evening Standard

Boohoo was already a governance mess. Enter Mike Ashley for extra complexity

Frasers wants its founder to be boss of the ailing fashion retailer. But Ashley isn’t ruling out being a bidder himself in any potential break-up

The Guardian - UK

London stocks climb after strong gains for Unilever and Barclays

The FTSE 100 finished 10.74 points, or 0.13%, higher to end the day at 8,269.38.

The Independent UK

Frasers Group calls for Mike Ashley to replace Boohoo chief

Ashley’s Frasers Group, which owns 27% of online retailer, seeks vote on overhaul to ‘set new course’ for future

The Guardian - UK

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Frasers demands appointment of founder Mike Ashley as boss of Boohoo

Frasers warned over what it claimed was a ‘leadership crisis’ at Boohoo after its chief executive last week stepped down.

Evening Standard

Boohoo boss to step down as review launched that could spark breakup

John Lyttle to stay as CEO of fashion group, which includes Debenhams and Karen Millen, until successor found

The Guardian - UK

Shein doubles profits in UK after sales leap 40% to £1.5bn

Fast-fashion retailer presents ‘real challenge for Boohoo and Asos’ as it considers £50bn IPO, says analyst

The Guardian - UK

Asos to charge shoppers who regularly return large amounts of goods

Online fashion retailer writes to some customers to say they face £3.95 fee unless they keep up to £40 of order

The Guardian - UK

Sun, sea and sales … Britain’s delayed summer arrives to thaw the retail chill

After a difficult period on the high street, base rates are falling, temperatures are rising and things are looking up

The Guardian - UK

Investors could claim £100m payout from Ladbrokes and Coral owner Entain

Legal firm says group failed to update shareholders on problems with bribery and corruption at its former Turkish operation

The Guardian - UK

Boohoo investors seek £100m in damages after minimum wage row

Legal move follows share price plunge after 2020 reports of company paying workers as little as £3.50 an hour

The Guardian - UK

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Evening Standard

Inside Shein's £50bn fashion empire, from 'sinister surveillance' tactics to its mystery founder

As ministers woo the Chinese fashion brand to make the most contentious London stock market listing in recent years, Katie Strick reports on how the hyper-fast clothing megalith went stratospheric

The Guardian - UK

Boohoo backtracks on plan to pay bosses £1m bonuses

Shareholders complained about payouts amid missed bonus targets on sales, profits and IT aims

Fortune

Loss-making U.K. retailer Boohoo wants to reward its top team with millions in bonuses—and its shareholders aren't happy

“The market is unimpressed with paying executives £1 million packages when the performance of the company has been woeful,” one expert said.

Evening Standard

Boohoo recovery plan doubts grow as losses hit £160m

Shares fell by as much as 6.3% as the business reporting declining revenue

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The Guardian - UK

Boohoo dives into debt as losses soar to £160m and sales slump

Online fashion retailer cut over 1,000 jobs in year to February amid competition from rival Shein and resurgent high street

Evening Standard

FTSE 100 Live 08 May: Shares rise again to another record, Boohoo losses grow, Wetherspoons sales up

A fresh record for the FTSE 100 index and trading updates by JD Wetherspoon and Informa today provided more cheer for investors.

The Guardian - UK

Asda, Asos and Boohoo must avoid ‘greenwashing’ after crackdown

Retailers will have to file regular reports to UK regulator after concerns over environmental claims

The Guardian - UK

UK Libor trader Tom Hayes loses appeal against rate-rigging conviction – as it happened

The former star UBS and Citigroup trader was convicted of conspiracy to defraud by manipulating financial benchmark and served 5 1/2 years in prison

Evening Standard

Zara owner Inditex's profits soar as it fends off Shein challenge

The surge in profits comes in contrast to struggling rivals including the UK’s Boohoo and ASOS

Evening Standard

Teenage darts sensation Luke Littler wins BoohooMAN modelling contract

Seventeen-year-old player could become millionaire

The Guardian - UK

Primark holds prices steady after Rita Ora helps lift sales

Cut-price fashion chain toasts festive sales rise as online rival Boohoo reports decline

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