Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


LONDON (Reuters) -British online fashion retailer Boohoo warned on Thursday that expectations for its 2021-22 year will be lower than previously guided, blaming higher return rates, disruption to international deliveries and pandemic-related cost inflation.

The group, which sells clothing, shoes, accessories and beauty products aimed at 16 to 40-year olds, said it now expected net sales growth to be 12% to 14%, compared to previous guidance of 20% to 25%.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) margin for the year was expected to be 6% to 7%, compared to previous guidance of 9% to 9.5%, implying adjusted EBITDA of between 117 million pounds ($155.2 million) and 139 million pounds ($184.4 million).

This is due to significantly higher returns rates impacting net sales growth and costs, with continued extended delivery times impacting international demand, consequently driving lower returns on marketing expenditure, and significant ongoing pandemic-related inbound freight cost inflation,” it said.

Updating on trade for the three months to Nov. 30, Boohoo said gross demand had exceeded that achieved in each of the first and second quarters of the financial year ending Feb. 28 2022.

It said gross sales were up 28% and net sales were up 10%.

Boohoo said its guidance reflects an expectation that the factors impacting its performance persist through the remainder of the financial year.

It also warned that recent developments surrounding the new coronavirus Omicron variant could pose further demand uncertainty and elevated returns rates particularly in January and February.

($1 = 0.7540 pounds)

(Reporting by James Davey, Editing by Paul Sandle)

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts