Boohoo, Debenhams, Online shopping, Retail industry, Money, Consumer affairs, Business Business | The Guardian
Rebrand to Debenhams won’t solve the company’s issues – the retailer may simply have already had its day in the sunBoohoo rebrands as Debenhams amid drop in sales of youth labels“Debenhams is back,” proclaimed the online retailing group formerly known as Boohoo. Unfortunately, its fast-fashion brands – not just Boohoo itself but also Pretty Little Thing and MAN – haven’t gone away. All are struggling badly.Since the latter collection still represents three-quarters of group revenues, new chief executive Dan Finley’s upbeat talk about an exciting future feels more than a little premature. The main market-moving news in the strategy rejig and trading update was another downgrade to the City’s profit expectations alongside a thumping £40m charge for writing down surplus stock at what are now badged as the “youth brands”. The shares fell 4%. Continue reading…
Rebrand to Debenhams won’t solve the company’s issues – the retailer may simply have already had its day in the sun
“Debenhams is back,” proclaimed the online retailing group formerly known as Boohoo. Unfortunately, its fast-fashion brands – not just Boohoo itself but also Pretty Little Thing and MAN – haven’t gone away. All are struggling badly.
Since the latter collection still represents three-quarters of group revenues, new chief executive Dan Finley’s upbeat talk about an exciting future feels more than a little premature. The main market-moving news in the strategy rejig and trading update was another downgrade to the City’s profit expectations alongside a thumping £40m charge for writing down surplus stock at what are now badged as the “youth brands”. The shares fell 4%.