Boohoo boss pledges to ‘rebound’ as profits slide and returns rates spike

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Boohoo has recorded a slide in preliminary profits exacerbated by slowing international growth, but boss John Lyttle says the etailer is “well-positioned to rebound strongly”.

Boohoo posted a 28% fall in adjusted EBITDA year on year to £125m in the year to February 28, flat on a two-year basis, which the retailer attributed to factors including lower than anticipated growth and “higher marketing costs as we invest in newly acquired brands.”

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