Sales at Boohoo grew strongly in the last four months of 2018, in another sign that people are choosing online shopping over the High Street. The online fashion retailer, which also owns the PrettyLittleThing and Nastygal fashion labels, saw revenues in the four-month period jump 44% to £328.2m. It revised its revenue growth forecast for the financial year to 43%-45%, up from a previous estimate of 38%-43%. The company called the figures "another great set of results". In a statement, joint chief executives Mahmud Kamani and Carol Kane said: "The global growth opportunity is significant and we will be addressing it in a controlled way - investing in our proposition, operations and infrastructure to capitalise on the opportunity."
Scrolling through Instagram, you're bound to come across an influencer wearing an outfit from one of the internet's many fast fashion retailers. Pretty Little Thing and Missguided offer loads of clothes at really low prices - and they update much quicker than the high street. But how are these online retailers impacting the environment? And what role does social media play in the "wear it once" trend? MPs released a report last week outlining their worries about fast fashion's effect on the environment.
Online fashion retailer Boohoo has reported strong half-year profits and rapid growth at its fast fashion brands PrettyLittleThing and NastyGal. Boohoo Group revenue jumped 50% to £395.3m and pre-tax profits rose 22% to £24.7m in the six months to 31 August, compared with the previous year. The online fashion retailer raised its forecast for revenue growth this year. It expects sales growth of between 38% and 43%, up from its previous range of 35% to 40%. Boohoo said use of its social media content had grown dramatically.
Boohoo.com was offering a Christmas-themed pajama set with the words "Obsessive Christmas Disorder" printed across the top, complete with the O, C and D highlighted in different lettering. A U.K.-based clothing retailer has yanked one of its pajama sets from sale after complaints of the shirt's message containing a message that some feel to be insensitive. Boohoo.com was offering a Christmas-themed pajama set with the words "Obsessive Christmas Disorder" printed across the top, complete with the O, C and D highlighted in different lettering. PICS: WORLD'S MOST MODIFIED YOUTH HAS OVER 40 PROCEDURES TO'STAND OUT' "As someone whose OCD ruins her f----- life on a daily basis, i can and will throw hands with anyone i see wearing an "obsessive christmas disorder" jumper," one critic wrote on Twitter. "This actually makes me feel sick," wrote another.