A warning has been issued over when fashion giant Boohoo will return to profit as it battles a sharp drop in sales.
Shares in the Manchester-headquartered group fell this week after revealing its sales are expected to be cut by 12% during its current financial year.
Boohoo, whose brands include PrettyLittleThing, Nasty Gal and Debenhams, said extended delivery times and the cost of living crisis had impacted its results.
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However, the group said it would still hit expectations during its financial year.
So far, in the 10 months to the end of December, revenue dipped from a little under £1.7bn to just over £1.5bn, a 10% fall.
Now analysists at Panmure Gordon have warned that Boohoo will not breakeven until its 2024/25 financial year.
It said: “Booho …
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