Boohoo’s full-year guidance lowered

Boohoo posts revenue growth, shares rise

Boohoo has lowered expectations for full-year fashion growth and said that net sales growth is expected to be between 12-14%.

Whilst there is still a strong demand for clothing, net-sales growth fell from the originally expected 25% because of global supply chain issues and inflation.

Chief executive John Lyttle said: “The group has gained significant market share during the pandemic. The current headwinds are short term and we expect them to soften when pandemic related disruption begins to ease.”

“Looking ahead, we are encouraged by the strong performance in the UK, which clearly validates the boohoo model.”