UK's Boohoo warns of slower growth as supply issues weigh
LONDON (Reuters) -British online fashion retailer Boohoo warned sales growth would slow this year, hit by a squeeze on consumer spending, higher product return rates and continuing supply chain and delivery problems, sending its battered shares even lower on Wednesday.
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LONDON (Reuters) - British online fashion retailer Boohoo reported a 28% fall in annual core earnings that reflected significant freight and logistics cost inflation and warned that pandemic-related external factors will continue to impact it this year.
The group said on Wednesday it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 125 million pounds ($156 million) in the year to Feb. 28 - in line with guidance and down from 173.6 million pounds in 2020-21.
($1 = 0.8020 pounds)
Reporting by James Davey; Editing by Kate Holton
