H1 loss 9.1 mln stg vs 6.2 mln stg profit previous period
Downgrades full year revenue outlook
Shares down 10

LONDON, Oct 3 Reuters British online fashion retailer Boohoo slid to a loss after revenue fell 17 in its firsthalf and said a slower than expected recovery in sales volumes could result in little or no topline improvement for the full year, hitting its shares.

The stock plunged 10 in early deals on the downgrade, sinking to their lowest level since 2015, after it posted on Tuesday a pretax loss of 9.1 million pounds 11 million.

The British company, which includes PrettyLittleThing and Nasty Gal in its brand portfolio, reported revenue of 729.1 million pounds for the six months to the end of August.

It said that revenue for its fullyear to endFebruary 2024 was now expected to drop by 12 to 17, a major downgrade from its previous forecast of flat to minus 5.

Hargreaves Lansdown said that the fall in the rate of cost inflation plus the unclogging of supply chains and lower shipping costs should have helped Boohoo in recent months but it was struggling.

Despite these tailwinds, Boohoo turned lossmaking in the first half, highlighting the sticky position the group finds itself in, Hargreaves Lansdown analysts said in a note.

Boohoo39;s competitor ASOS in September reported a 15 fall in fourthquarter sales and forecast earnings around the bottom of its guided range but said it was making progress with its turnaround plan.

Boohoo CEO John Lyttle said in a…