Fashion retailer says pretax profits sank despite 20% rise in sales, with shoppers returning more goods
Boohoo has warned of slowing sales growth and a squeeze on profit margins as disruption to deliveries and more competition from the high street combines with higher shipping costs and wage rises at its warehouses.
Shares in the online fast fashion specialist fell more than 15% on Thursday after it said pretax profits had sunk by almost 64% to £24.8m in the six months to 31 August, despite a 20% rise in sales to £975.9m.
