The full line-up of Christmas trading statements may not yet have been released, but plenty have already come out and it’s clear that Black Friday’s success could have dealt a crushing blow to Christmas trading overall.
News this week that Boohoo had a very good final few months of 2019 was significant for more than one reason. As well as showing the firm’s overall strength, it sent its share price — and its overall value — soaring.
Boohoo continued its rapid sales ascent in the four-month period to the end of December and while there was no information about sales at its newly-acquired brands, its existing portfolio went from strength to strength.
The shift in consumer focus from physical stores to online shopping was underlined this week on news of a £51.4m deal to transform a London retail park into a logistics hub with warehousing for online businesses.
Online retailers are not immune to the devastation that is happening in UK retail at the moment and a new study said that more than 9,000 online retailers are suffering from significant financial distress.
2019 has been the year in which sustainability has been the keyword for both consumers and businesses, but while progress is being made in some areas, there’s still plenty of work to do, a new report showed on Thursday.
The founders of Boohoo have pocketed £142.5 million after selling a chunk of their shares to take advantage of the company's market gains over the last year. After the placing, they continue to own 15.8% of the business.