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Boohoo s £1 7BILLION boom: Online fashion giant s sales soared by 41% in lockdown

Online fashion giant Boohoo today revealed a 41% surge in sales it raked in huge sims on the back of the online shopping boom during lockdown with Britons spending millions on lounge and sportswear while stuck at home. The retailer, founded by billionaire Mahmud Kamani, said revenues jumped to £1.74 billion in the year to February 28 2021 from £1.23 billion in the previous year. The fast fashion retailer, which recently bought Debenhams, Dorothy Perkins, Burton and Wallis and was rocked by the Leicester sweatshop scandal, told shareholders on Wednesday morning that pre-tax profits were also lifted by 35% to £124.7 million because of the sales explosion caused by the pandemic.

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UK a leader in the 2020 shift online – while studies suggest shoppers want to buy more in-store, but as yet are not returning to shops post-Covid 19 lockdown

UK a leader in the 2020 shift online – while studies suggest shoppers want to buy more in-store, but as yet are not returning to shops post-Covid 19 lockdown
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Locked-down Britons spent £93billion online in 2020

Locked-down Britons spent £93billion online in 2020 - as global nations splashed £19.2TRILLION in pandemic 23.3% of all retail sales were online in UK last year, a rise on the 15.8% in 2019 Globally, 19 per cent of all shopping was done online in 2020, UN figures show In South Korea, 25.9 per cent of shopping was done online with 24.9% in China

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Summer boom beckons as retail reopens

Summer boom beckons as retail reopens Fashion retailers predict the store reopening sales surge is set to heat up this summer. Multiple retailers in England, Wales and Scotland have been encouraged by trade since coronavirus restrictions lifted last month, and many predict a summer “boom” as upcoming staycations, and the further unlocking of events, pubs and restaurants, provide shoppers with a raft of reasons to replenish their wardrobes. In the first fortnight since non-essential retail reopened on 12 April, clothing retailers in England and Wales reported a surge in sales. Total fashion like-for-like sales jumped 82.4% in the week to 18 April, compared with the preceding week, BDO’s High Street Sales Tracker showed.

United kingdomNorthern irelandCity ofRepublic of irelandNicola sturgeonSimon pooleCharles tyrwhittDiane wehrleChana baramJohn stevensonMartino scabbia guerriniJohn basonAssociated british foodsVf corporationTk maxxStreet sales tracker

High street footfall down by 3% a week after shoppers rushed to stores

Footfall across all UK shopping destinations in week starting April 18 fell by 3.4% against previous week All retail locations saw a slight decrease in footfall following the initial rush after curbs eased on April 12 High streets were the most robust location, with footfall dipping by just 0.8% against the previous week Meanwhile, UK shopping centres saw footfall slide by 8.4% while retail parks saw a 3.5% decline last week

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