Today’s news in brief-11/3/25

Boohoo has rebranded as Debenhams Group following its acquisition of the high street department store in 2021, which it relaunched as an online-only business. The rebrand comes amid challenges for Boohoo’s youth-focused brands, including Boohoo, PrettyLittleThing, and MAN, which have required heavy discounting. The group reported a 16% revenue drop to £1.2bn and expects adjusted profits of around £40m, impacted by one-off costs such as US warehouse closures and redundancies.

Mango celebrated a record year, with turnover rising 7.6% to €3.3bn and net profit up 27% to €219m in 2024. The company invested €219m, its highest ever, in store openings, refurbishments, and technology, aiming to open over 500 stores by 2026. International sales accounted for 78% of revenue, with Spain, France, and the US leading growth. CEO Toni Ruiz highlighted the brand’s strong value proposition and investment in logistics and the new Mango Campus as drivers of success.

In the UK, retail sales grew 1.1% year-on-year in February, buoyed by Valentine’s Day, with jewellery, watches, and fragrances performing well. Online non-food sales rose 1.9%, though in-store non-food sales declined by 1%. Helen Dickinson of the British Retail Consortium warned of challenges ahead, including rising costs from new legislation and a packaging levy, which could force retailers to raise prices or cut investments.

M&S expanded its ‘Brands at M&S’ platform by adding Hush and Whistles, aiming to strengthen its womenswear offering. Womenswear accounts for 49% of sales on the platform, with growth of 18% over the past year. The new brands will join existing labels like Nobody’s Child, with exclusive collections and pop-up shops planned to enhance M&S’s fashion credentials.