Revenues at the online retailer, which also owns Debenhams and the Pretty Little Thing brand, were down 17% to £1.46 billion for the year to 29 February, while the losses were 70% higher than last year.
The business said the downturn came “as group performance continued to be impacted by a difficult macroeconomic environment”.
Weak consumer demand has only added to the problems facing Boohoo.
Like recent fashion casualty Ted Baker and on-the-brink Superdry, Boohoo’s clothes have been falling out of style. At the same time, it faces stiff competition from Chinese retailers Shein and Temu, which sell their clothes at prices that homegrown retailers have struggled to compete with.
The business has been pursuing higher margins, but the sales slowdown suggests that it is struggling to do so without losing customers.
هذه القصة مأخوذة من طبعة May 08, 2024 من Evening Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 08, 2024 من Evening Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Kylie Minogue loves the bar at Louie, startling Beefeaters and snooping in The Conran Shop
Currently it’s largely suitcase-based as I’ve been doing so much travel for work, but Melbourne, Australia, is home.
Are Spurs willing to invest what it takes to win trophies?
Criticism of the manager for the club's struggles misses the point-whatever he says, he's not been given a squad ready to push for the biggest honours
Crowning glory awaits Britain's golden girl
Odds-on favourite to win BBC Sports Personality, Keely Hodgkinson never doubted she was ready to conquer the world
Residents at war over £10 billion 'Shanghai-style' Earl's Court plan
Controversial proposals are causing a huge furore in west London
The secrets of selling the capital's £40m homes
Armed security, NDAs, a gold temple...inside the world of ultra high-end property deals
Jenny Packham on Amsterdam why is truly magical at Christmas time
The designer gets lost in the cobbled streets and is entranced by the city’s twinkling lights and unique spirit
Alfies Antique Market
Here is a place to blindly lose oneself in a labyrinth of staircases and thresholds.
Decline and fall: what comes after peak wellness?
The social elite are obsessed with devices that track their health but the backlash is building
The newest AI can arrange your holiday- but will it be a strictly woke one?
A lightning-quick artificial megabrain with an appetite for social justice? WILLIAM HOSIE has a chat with Claude Al
'Fame just isn't healthy
Mercury Prize-winning band English Teacher on the pressure of success, trying not to burn out and the challenges black women face in indie music