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Future of British Business

Boohoo Posts First Ever Sales Drop in UK as Shoppers Get Picky

Boohoo stuck to its guidance for the full year of low single digit revenue growth.

Boohoo stuck to its guidance for the full year of low single digit revenue growth.

Photographer: Hollie Adams/Bloomberg

Boohoo Group Plc recorded the first UK sales decline in its history as the online fashion retailer grapples with intense competition, supply-chain woes and waning pandemic consumer trends.  

The fast-fashion company reported a 1% fall in its British home market and an 8% drop in overall sales in the first quarter, according to a trading update Thursday. Boohoo blamed the fall on tough comparisons with last year when people were spending more online during lockdowns.