Boohoo swings to £91m loss as shoppers return more items
by Sarah Butler from on (#6BREB)
Online fashion business loses out as shoppers return to high streets after Covid lockdowns
Boohoo.com has dived almost 91m into the red as its annual sales fell and it wrestled with higher levels of returned products as shoppers stepped out of their easy-fit jogging bottoms and hoodies and back on to high streets.
The online fast fashion business said sales fell 11% to 1.8bn in the year to 28 February, including a 9% fall in the UK. It warned that sales were likely to fall by as much as 5% in the year ahead as shoppers reined in spending amid cost of living concerns.
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