Speakers from Touchstone Exploration, Shanta Gold, Savannah Resources and Kavango Resources feature in our Natural Resources webinar on May 25th. Please register here.

Less Ads, More Data, More Tools Register for FREE

boohoo adds 500 jobs, boosts sales capacity with new warehouse

Fri, 9th Apr 2021 08:29

(Alliance News) - boohoo Group PLC on Friday said it has agreed a long-term lease for a new warehouse in Daventry, Northamptonshire.

The site is set to become operational in the second quarter of the company's financial year ending February. Alongside existing units in Burnley and Sheffield, the Daventry asset will give the AIM-listed fast fashion brand net sales capacity "in excess" of GBP4 billion.

"The new warehouse is scalable, with the group expecting to invest over GBP50 million in the coming years, increasing capacity and offering the group operational flexibility as it grows. The deal is expected to secure up to 500 jobs and in the future create up to a further 1,000 jobs as capacity increases at the site," boohoo said.

boohoo shares were 0.9% lower at 341.62 pence each in London on Friday morning.

A boom in e-commerce has meant retailers have jostled for warehouse space to cope with the increased demand.

ASOS PLC on Thursday said its global infrastructure development plans were "on track". A fit out of a fulfilment centre in Lichfield, Staffordshire has begun and a new US automation is progressing as planned ahead of a launch in roughly two years.

Back in March, Sky News reported JD Sports Fashion PLC was leading the race to buy an Arcadia Group Ltd warehouse, also in Daventry.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Related Shares

More News

EXECUTIVE CHANGES: Long-serving Cranswick chair Davey to step down

EXECUTIVE CHANGES: Long-serving Cranswick chair Davey to step down

Today 17:01

Sunday newspaper round-up: AstraZeneca, Virgin Atlantic, Boohoo

(Sharecast News) - AstraZeneca boss Pascal Soriot was last night at the centre of an extraordinary row among City investors over his multi-million-pound bonus. The French chief executive has been lauded for rolling out Astra's life-saving Covid vaccine at no profit, as well as fighting off predatory buyers and boosting the company's share price since he took charge in 2012. But Astra's major shareholders are understood to have been locked in heated talks for days after the drugs giant proposed to boost his bonus and performance-related share award by £2.3million to £12million. - Financial Mail on Sunday

9 May 21 20:21

EXECUTIVE CHANGES: JD Sports adds Pentland executive Long to board

EXECUTIVE CHANGES: JD Sports adds Pentland executive Long to board

7 May 21 15:27

BROKER RATINGS: Exane BNP downgrades three property companies

BROKER RATINGS: Exane BNP downgrades three property companies

6 May 21 09:46

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.