LONDON, June 16 (Reuters) – British online fashion retailer Boohoo reported an expected fall in revenue in its latest quarter, reflecting higher product returns and a tough comparison with the same period last year when sales got a pandemic boost. But the group, which sells clothing, shoes, accessories and beauty products aimed at 16 to 40-year olds, maintained its guidance for the full year. Boohoo said on Thursday its revenue fell 8% to 445.7 million pounds ($540.8 million) over the three months to May 31. It said UK sales fell 1%, but returned to growth in May. The group said its international performance continued to be impacted by increased delivery times, with sales down 28% in the United States, down 9% in the rest of Europe division and down 15% in the rest of world division. Gross margin for the quarter was 52.8%, down 220 basis points. Boohoo warned last… read more
