Boohoo swings to £91m loss as shoppers return more items

Online fashion business loses out as shoppers return to high streets after Covid lockdowns

Boohoo.com has dived almost £91m into the red as its annual sales fell and it wrestled with higher levels of returned products as shoppers stepped out of their easy-fit jogging bottoms and hoodies and back on to high streets.

The online fast fashion business said sales fell 11% to £1.8bn in the year to 28 February, including a 9% fall in the UK. It warned that sales were likely to fall by as much as 5% in the year ahead as shoppers reined in spending amid cost of living concerns.