Overview

• Boohoo reports a significant increase in annual losses to £160 million, with sales dropping by 13% as it grapples with intense competition and a shift back to brick-and-mortar shopping.
• The company has accumulated a net debt of £95 million, a stark reversal from its previous cash-positive position, reflecting its current financial strain.
• Over 1,000 jobs have been slashed in response to the downturn, highlighting the severe impact on its workforce.
• Boohoo's share price continues to plummet, now valued at less than a tenth of its peak three years ago, underscoring investor concerns over its future.
• Despite the challenges, Boohoo is focusing on strategic measures like automation and new warehouse openings in the US to stabilize and grow its business.