Britain’s Boohoo sees tough year ahead as profit falls 28%

LONDON – British online fashion retailer Boohoo reported a 28% fall in annual core earnings that reflected significant freight and logistics cost inflation and warned that pandemic-related external factors will continue to impact it this year.

The group said on Wednesday it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 125 million pounds ($156 million) in the year to Feb. 28 – in line with guidance and down from 173.6 million pounds in 2020-21.

($1 = 0.8020 pounds)