Boohoo's surprise trading update Thursday offered more insight into how the firm is faring with sales guidance revised sharply upwards, although investment in acquired brands will keep profits growth more muted.
The department store chain announced on Wednesday that it has established a series of new sustainability goals for 2025, focusing on three key areas: climate action, waste and recycling, and sustainable sourcing.
Vera Bradley’s recently acquired jewelry brand contributed $5.4 million in sales to the company’s revenues in Q2, while charges related to its purchase ate into the Fort Wayne, Indiana-based accessories group’s income.
The Australian arm of Karen Millen, the business that’s now owned by Boohoo, has been placed into administration. The move was widely expected and will mean the closure of all its stores and concessions there.