Meeting even diminished expectations is proving too much of a challenge for Boohoo. The plunge in the value of the pound and the prospect of a more severe downturn in Britain, its home — and by far its largest — market, mean that even lowering the bar again might not save the fast-fashion retailer from disappointing full-year results.
Boohoo has cut its profit guidance for the 12 months to the end of February next year, now forecasting an adjusted margin of 3 per cent to 5 per cent this year, down from a range of 4 per cent to 7 per cent. An improvement in sales is no longer expected to materialise this year, with the 10 per cent slide in revenue expected to repeat
