Buoyant Boohoo lifts profit despite supply chain scandal
By James Davey
LONDON (Reuters) - Boohoo reported a 51% increase in first half profit and raised its full year guidance on Wednesday, with publicity over failings in its supply chain showing no impact on the British online fashion retailer's sales.
Last week, Boohoo accepted all the recommendations of an independent review which found several failings in its supply chain in England after allegations about working conditions and low pay, setting out steps to tackle the problems.
Boohoo, which sells own-brand clothing, shoes, accessories and beauty products targeted at 16- to 40-year-olds, has been under intense scrutiny since July when the allegations surfaced after a lockdown during the coronavirus pandemic.
Unlike store-based rivals who had to shutter shops for several months during coronavirus lockdowns, Boohoo was able to trade throughout the first half and ...
Read More on Datafloq
LONDON (Reuters) - Boohoo reported a 51% increase in first half profit and raised its full year guidance on Wednesday, with publicity over failings in its supply chain showing no impact on the British online fashion retailer's sales.
Last week, Boohoo accepted all the recommendations of an independent review which found several failings in its supply chain in England after allegations about working conditions and low pay, setting out steps to tackle the problems.
Boohoo, which sells own-brand clothing, shoes, accessories and beauty products targeted at 16- to 40-year-olds, has been under intense scrutiny since July when the allegations surfaced after a lockdown during the coronavirus pandemic.
Unlike store-based rivals who had to shutter shops for several months during coronavirus lockdowns, Boohoo was able to trade throughout the first half and ...
Read More on Datafloq
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