Published 11 days ago

Boohoo losses widen as sales slump

Boohoo faced pre-tax losses totaling £159.9 million for the year, with revenues dropping 17% to £1.5 billion due to a focus on profitability and challenging market conditions.
Net debts of £95m were accumulated as losses widened by 76% to £160m, resulting in job cuts and decreased sales affected by strong competition.
Boohoo's poor performance led to the withholding of 16m shares from Pretty Little Thing shareholders, impacting Umar Kamani's group.

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The Guardian

Boohoo dives into debt as losses soar to £160m and sales slump

Online fashion retailer £95m in red amid competition from Shein and Temu and resurgent high streetBoohoo has cut more than 1,000 jobs and dived into debt after its losses soared and sales slumped 13% amid heavy competition from the Chinese online seller Shein and the revival of the high street after the pandemic lockdowns.The online fashion specialist, which owns Debenhams, Warehouse, Dorothy Perkins and Pretty Little Thing, said it had built up…

12 days ago·London, United Kingdom

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The Independent

Boohoo losses widen as sales slump

The group reported pre-tax losses of £159.9 million for the year to February 29, against losses of £90.7 million the previous year.

12 days ago·London, United Kingdom

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Reuters

Boohoo's annual earnings fall 7% after sales slump

British online fashion retailer Boohoo reported a 7% fall in annual core earnings at the bottom end of guidance after revenue dropped 17%, which it said reflected difficult market conditions and a strategy to target more profitable sales.

11 days ago·United Kingdom

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Daily Mirror

Boohoo losses deepen as sales slump almost 20% amid 'difficult market'

The firm said it was on the road to recovery despite reporting pre-tax losses of £159.9million for the year to February 29, against losses of £90.7million the previous year

12 days ago·London, United Kingdom

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RTÉ

Boohoo's annual earnings fall 7% after sales slump

Online fashion retailer Boohoo has today reported a 7% fall in annual core earnings at the bottom end of guidance after revenue dropped 17%, which it said reflected difficult market conditions and a strategy to target more profitable sales.

11 days ago·Ireland

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