Apr 24, 2019

Boohoo and Primark thrive as young shoppers spend, spend, spend!

Primark and Boohoo both sell own-brand, cheap clothes to young people, with savvy digital marketing. Primark looks much more like an old-fashioned retailer. On the other hand, Boohoo has to work out how to transition to a more mature company as the pace of growth slows - it expects 25-30 per cent growth in the new financial year, and an increase in capital expenditure from £47m to between £50m and £60m. It recently turned to none other than Primark - more specifically the bricks-and-mortar retailer's former chief operating officer John Lyttle - to lead that process as new chief executive. Seven weeks after Aviva tapped company insider Maurice Tulloch to be its new chief executive, the boss of its UK insurance division is out. Amigo, the subprime lender that floated on the LSE last year, has said its chief executive Glen Crawford is standing down for medical reasons.

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