The British online clothing retailer Boohoo reported a drop – as expected – in revenue in the last quarter, reflecting higher product returns and a difficult comparison with the same period last year, when sales increased due to the pandemic.
But the group, which sells clothing, footwear, accessories and beauty products to audiences aged 16-40, has maintained estimates for all usage.
Boohoo said its revenue fell 8% to 4 445.7 million ($ 540.8 million) in the quarter to May 31.
He also stressed that sales in the UK fell 1%, but returned to growth in May.
The group stressed that its international performance continued to be affected by increased delivery times, with sales falling 28% in the US, lower 9% in the rest of Europe and lower 15% worldwide.
The gross margin in the quarter stood at 52.8%, down by 220 basis points.
The company warned last month that sales would fall in the first quarter. predicts a return to growth in the second quarter and improved performance in the second half.
The increase in revenues for the year 2022-2023 is expected to be in a low single digit percentage, with the margin of adjusted EBITDA being 4% -7%.
Source: Capital
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