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.
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