Analysis: ‘It’s tough out there’ – how Boohoo plans to confront the cost-of-living crisis
Despite being one of the standout performers during the pandemic, Boohoo has shown it’s not immune to mounting inflationary pressures. How do its bosses plan to turn the fast-fashion giant around?
Boohoo’s profits and sales tumbled in the six months to August 31 as the fast-fashion retailer grappled with macroeconomic headwinds, including soaring cost inflation and a drop in consumer demand.
However, alongside the financial turbulence – which is at historic levels – Boohoo is dealing with some problems of its own making. Notably, sky-high returns rates and glacial delivery times to international customers, which have meant its hard-won crown has started to slip.
Already have an account? Sign in here