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AN ONLINE fashion company and major Lancashire employer has report a large rise in profits. Boohoo, which maintains a large distribution hub on Heasandford Industrial Estate, Widow Hill Road in Burnley, reported a 41 per cent rise in revenues as the firm benefited from the online shopping boom during lockdown. The company told shareholders on Wednesday morning that pre-tax profits lifted by 35 per cent to £124.7 million as it was boosted by the sales increase, while revenues jumped to £1.74 billion in the year to February 28 from £1.23 billion in the previous year. Boohoo chief executive officer John Lyttle said: “Full-year 2021 has been a year of significant investment for the group as we build a platform for the future and I am very pleased to report a strong financial performance. ....
AN ONLINE fashion retailer and major East Lancashire employer is reportedly considering linking multimillion pound bonuses received by executives to how they improve workers rights. According to Reuters, Burnley-based Boohoo founder Mahmud Kamani told MPs on Saturday that the firm was considering plans which would see bonuses linked to environmental and social governance (ESG) improvements, including better pay and conditions for workers and more environmentally friendly ways of working. This comes after a series of revelations last year which found that a number of factories in Boohoo s supply chain were paying workers less than the minimum wage and requiring them to work under unsafe conditions during the height of the coronavirus pandemic with one such factory described by an independent investigator as having “the worst working conditions that I have seen in the UK. ....
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