It came as the fast fashion retailer also announced another slump in sales and struck a new refinancing deal. On Friday, Boohoo chief executive John Lyttle said he has informed the company’s board that he will step down from his role after five years. In the update to shareholders, Boohoo also said it is launching a strategic review of potential options to improve shareholder value, increasing speculation regarding a potential break-up of the business. It came as the company also reported that revenues dropped by 15% to £620 million for the six months to August 31. It reported that sales by gross merchandise value (GMV) were down 7% to £1.18 billion for the half-year.

Source: The Herald October 18, 2024 08:27 UTC