Boohoo issues profit and sales warning as market value slumps 87% in year

Cost of living crisis blamed for fast-fashion brand's performance, with 10% fall in total revenues in first half

Boohoo has issued a profit and sales warning as the cost of living crisis causes a slump in shopper demand for the fast-fashion brand's products.

The online clothing retailer, whose brands include Pretty Little Thing and Nasty Gal, reported a 10% fall in total revenues to 882m in the half year to 31 August and said it now expects annual sales to be down about the same level.