While online powerhouse Boohoo’s ethical credentials have prompted fierce criticism, its operational prowess and consumer appeal have rarely been in question.
That changed today as the fast fashion pureplay shocked the City with a profits warning. A grisly combination of increased costs, consumer caution as the Covid pandemic entered a new phase and spiralling returns wiped 14% off the etailer’s market cap as sales growth expectations were halved and likely earnings growth scaled back.
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