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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 ...

One of Britain's most famous architects has said offices left empty by the coronavirus crisis could become the residential tower blocks of the future and vacant shops could be turned into urban farms.  Lord Foster of Thames Bank, whose designs include the Gherkin in London and Apple's headquarters in Cupertino, California, said the pandemic has been 'an accelerant' of trends that will reshape global cities. The 85-year-old argued that these trends include the repurposing of buildings for alternative use and the pedestrianisation of larger swathes of urban centres. Lord Foster told the Finan...

Mike Ashley Frasers Group has sold its 25% stake stake in French Connection Share price soared Friday after takeover approaches from investment groups Spotlight Brands, behind fitness-focused Sweaty Betty, and Laura Ashley owners Gordon Brothers made one of the approaches Proposals come same week that Asos announced its £330m Topshop takeover Bohoo has agreed a £55million deal to buy the brand and website of Debenhams

57 of 264 stores on Oxford Street already permanently shut with annual revenue falling to below £2billion  More than 50,000 retail and hospitality jobs set to be lost when third lockdown ends, industry group claims New West End Company has warned the 'globally unique West End ecosystem is beginning to break down' It claims West End has suffered tougher financial hit from coronavirus pandemic than any other part of UK

Boohoo has bought collapsed department store group Debenhams for £55m but will shut all remaining stores  Deal confirms Debenhams brand will disappear from high street after 242 years with up to 12,000 job losses Boss Mahmud Kamani in battle with Amazon as he wants to dominate homeware and beauty as well as clothes His son and PrettyLittleThing founder, Umar Kamani, says the family used to make weekly trips to Debenhams