Online fashion retailer Boohoo sees shares slide 22% on profits warning
Boohoo owns PrettyLittleThing, Warehouse, Oasis, Karen Millen, and Coast, as well as former Arcadia’s online brands of Burton, Dorothy Perkins, and Wallis.
British online fashion retailer Boohoo warned on annual profit for the second time in four months, blaming a spike in product return rates, disruption to international deliveries and higher inbound freight costs.
It said the new Omicron coronavirus variant could pose further demand uncertainty and elevated returns rates, particularly in January and February if purchased partywear is left unworn by cancelled social gatherings.
