Its cheerful chief believes the firm is well positioned to bounce back, but that may not happen very soon
This time last year Boohoo had a stock market value of £4bn and seemed to be flying. It was lording it over the high street by buying up its deadwood brands for online rejuvenation; pandemic trading conditions were delivering a whoosh to revenues as the likes of Primark had to close their doors.
And now? Two profit warnings later – plus a downbeat outlook statement on Wednesday – Boohoo is full of grumbles. Customers are returning more items, the bane of an online retailer’s life, as they ease out of lockdown joggers and into smarter kit.
