Further downgrades likely11 Mar 2025 11:31
Boohoo’s youth brands, which include Boohoo, PrettyLittleThing and its menswear collection MAN, have been struggling, forcing the retailer to discount heavily and take a £40m writedown on surplus stock. The closure of its US warehouse and redundancy payments after 200 job cuts at the Manchester head office will also result in one-off costs this year.
Finley said the turnaround of the youth brands “will take time”. “I have inherited significant challenges. I can see their future potential as they evolve into fashion-led marketplaces and adopt a leaner operating model,” he added.