Boohoo Group issued a trading update on Wednesday that may have been short but it was fairly sweet with the three months up to May 31 showing continued “strong growth across all brands in all regions.”
In addition to announcing a 48% surge in revenue for the year ended February, British e-tailer revealed on Wednesday that Brian Small is to join its board as an independent non-executive director with immediate effect.
Boohoo delivered a powerful set of final results on Wednesday to show just how much money can be made from selling affordable fast-fashion online and that its formula can perform globally as well as in the UK.
On Friday afternoon, UK e-tail giant Boohoo became the first big-name retailer to ban wool in its products. By Friday evening, it had become the first big-name retailer to change its mind on the subject.