Boohoo’s non-execs’ show of support

THE chairman of Boohoo.com and the three other non-executives on the board  of the online retailer, have all upped their stakes in the business following this week’s profit warning.

Peter Williams, the retail veteran who chairs the Manchester-based firm, was joined by colleagues David Forbes, Mark Newton-Jones and Stephen Morana, in a show of support for the business.

All bought shares priced at 22p and 23p, which is where the stock is trading after the shock news on Wednesday that sales growth hadn’t lived up to expectations over the autumn and full year profit targets will be well below forecasts.

Boohoo said despite hiking marketing spend, sales had been hit by aggressive discounting from high street fashion retailers in the last few months of 2014.

Having floated at 50p per share last March, the price slid more than 40% on the alert.

The most active buyer was former Rothschilds dealmaker David Forbes who acquired 200,000 shares at 23p, followed by Zoopla CFO Morana, who bought more than 179,000 shares at 22.25p.

Mothercare chief executive Mark Newton-Jones bought 109,467 at 22.78p, while Peter Williams snapped up 100,000 more shares at 22,43p.