![]() ![]() ![]() H&M said the new autumn collections have been well received and September sales were better than previous year but also warned that it was being held back by supply chain challenges. She announced the move in an Instagram post. The Swedish retailing giant benefited from straddling both online and offline platforms. Sophia Amoruso, the outspoken founder of apparel retailer Nasty Gal and more recently of multimedia company Girlboss, is stepping down as CEO. The company said consumer demand, which improved through August, was keeping its momentum in September as well.īoohoo’s results compare to 9% growth in third-quarter sales at much-bigger rival H&M (ST:HMb). Gross margin eroded by 40 basis points to 54.6% as the company had to spend more on marketing and shipping to overcome pandemic-induced tightness in the freight market. In the six months ended August 31, Boohoo’s revenue rose 20% on-year to 975.9 million pounds ($1.30 billion). Adjusted EBITDA margins are seen at 9.25% at the midpoint of the guidance range, compared to an earlier estimate of 9.75%. It now expects full-year sales to grow 20%-25% compared to the 25% growth it so far anticipated. Boohoo blamed pandemic-related challenges and higher shipping and wage costs for its decision. ![]()
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