Primark and Boohoo both sell own-brand, cheap clothes to young people, with savvy digital marketing. But beyond that they are very different businesses (and to be fair, trade on vastly different multiples). Boohoo is an online retailer that turns out the latest trends on ultra-quick turnaround times. Primark looks much more like an old-fashioned retailer. It has no […]
Shares in Twitter have surged more than 17% after the firm reported rising numbers of users and higher revenues, days after its chief executive promised to improve how it tackles online abuse. The company’s revenue rose to $787m (£605m) in the first quarter, up 18% from a year earlier. The number of daily active users […]
Facebook and Instagram face a ban on letting under-18s “like” posts on their platforms while Snapchat could be prevented from allowing the age group to build up “streaks”, under new rules proposed by the UK’s data watchdog. It believes the tools encourage users to share more personal data and spend more time on apps than […]
High-end fashion chain LK Bennett has been bought out of administration, saving 325 jobs. However, 15 of the retailer’s stores are not included in the deal and will close, leading to the loss of 110 jobs. LK Bennett has been bought by Byland UK which was set up by Rebecca Feng, who runs the company’s […]
How often do people see companies’ branding or adverts without being able to discern what it is they actually do? Studio Graphene wanted to find out, so it commissioned an independent, nationally representative survey among more than 2,000 UK adults. It ran a little experiment: the participants were given a list of 10 company names and their […]
Shares in Lyft closed nearly 9% higher on the ride-hailing firm’s first day as a listed company on the Nasdaq stock exchange. The firm’s stock rose from a starting price of $72 each to finish at $78.29, valuing it at $25.4bn (£19.5bn). The initial public offering (IPO) has made multi-millionaires of the seven-year-old company’s founders, […]
Chinese telecoms giant Huawei said revenues topped $100bn in 2018 despite a US-led campaign against the business on fears it poses a security threat. The firm said revenue for 2018 hit 721.2bn yuan ($107bn), while net profit jumped 25% to 59.3bn yuan. The US and others have restricted the company over concerns that its ties […]
When it comes to style, there are certain things that should arguably be left in a land that fashion forgot. Leg warmers, deely bobbers (fluffy sort of antennae on a headband) and jumpsuits for men don’t belong in a civilised society. The same could be said for 1980s denim which spawned such trends as stone-wash […]
Marks and Spencer is planning a big shift towards food at its stores, the retailer has said. It said it wanted to target the weekly family shop by having more stores that offer its full range of food. At the moment, only around 12 of its stores offer all 6,500 of its food products. The […]
Fashion chain Quiz has issued its third profit warning in five months after seeing a “significant shortfall” in sales. The firm, which has 250 UK stores and concessions, is having to sell off stock more cheaply than it expected. Tarak Ramzan, chief executive, said “all aspects of the business” were being reviewed after “highly disappointing” trading. […]
