Articles by Rachel Douglass
NRF: Shoplifting figures see sharp increase on pre-Covid levels
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A new report by the US’ National Retail Federation (NRF) has documented a concerning increase in shoplifting incidents in 2023 compared to that of pre-Covid levels. According to the organisation’s ‘The Impact of Retail Theft & Violence 2024’ study, there was a 93 percent increase in the average number of reported shoplifting incidents last year...
Frasers to put forward new candidate for Boohoo representation
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In the aftermath of Boohoo’s general meeting on December 20, when proposed candidates were declined a seat on the retailer’s board, Frasers Group has now released a statement noting the decision, yet reaffirming that it would continue pursuing representation. In a regulatory filing, the Sports Direct owner said it “respects the view of the...
A look into the turnaround plan of Nike’s new CEO
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On December 19, Elliot Hill, the new chief executive officer of Nike, had his first opportunity to address investors and, with this, release the company’s earnings for the second quarter. Despite an 8 percent drop in revenue for the period, Hill remained upbeat in the meeting, in which he revealed stages of a new turnaround plan as part of...
Inspecs executive chair to step down to director role, launches review of ‘composition’
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Eyewear distributor and manufacturer Inspecs Group has announced that Robin Totterman, its executive chair of the board, is due to step down from his position upon the conclusion of its forthcoming annual general meeting in 2025. Totterman, who Inspecs said remained “critical to the future success” of the business, will continue to perform his...
Quiz proposes AIM delisting amid ‘challenging market conditions’
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Fast fashion retailer Quiz has proposed voluntary cancellation of its shares on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange, amid a "challenging financial market” and specified burdens associated with trading. It is now pursuing a re-registration as a private limited company. The company said it had...
Boohoo sells London office, appoints Dan Finley director
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On the back of its public spat with majority shareholder Frasers Group, Boohoo has assumed business as usual on Monday, announcing the official appointment of CEO Dan Finley as director, as well as the sale of its London office. Finley, who was appointed to the helm in November, has formally been made director of the company and a member of the...
Tracing the Boohoo, Frasers debacle: A look at the ‘war of words’ between fast fashion’s biggest players
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On Friday, December 20, the boardroom battle between the UK’s biggest fast fashion players, Boohoo Group and Frasers Group, came to a head. Boohoo shareholders agreed that Frasers would not, at this time, get board representation. The result came after what essentially developed into a public spat between the two groups, unfolding in...
Boohoo shareholders deny Frasers’ board pursuit: Is the end in sight for the boardroom battle?
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Shareholders of Boohoo Group have voted against the appointment of Frasers Group founder Mike Ashley and its proposed director, Mike Lennon, to the fast fashion giant’s board of directors. The decision was made during a general meeting requisitioned by Frasers, which had carried out a campaign to gain representation amid declining sales at...
The Body Shop ‘back for good’ as profits reportedly rise
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The new owners of The Body Shop have said that the once flailing cosmetics retailer was “back for good” as it reportedly garnered a profit over its initial three months under new leadership. The company was bought out of administration in September by an investor consortium led by Mike Jatania’s Aurea Group, which has since been leading the...
N Brown receives FCA approval to go private
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N Brown has received watchdog approval in its pursuit of becoming a private company through a proposed acquisition by Bidco, a newly formed company owned and controlled by Joshua Alliance, a non-executive director of the British fashion group. The takeover has been given backing by the Financial Conduct Authority (FCA), allowing for proceedings...