John Lyttle’s Boohoo swings into £91 million loss on back of falling sales

Boohoo said its focus for the year ahead is on rebuilding profitability and getting back to growth

John Lyttle, the Offaly-born chief executive of Boohoo, said the fashion has invested in automation, local fulfilment capacity in the US and building global brand awareness.

Fast fashion giant Boohoo has reported a £90.7 million loss before tax for the 12 months ended February, 28, on the back of falling sales and inflation, according to its annual results.

The company, headed by Offaly man John Lyttle, had reported profit before tax of £7.8 million the prior year.

Revenue at the company was £1.8 billion, down 11 per cent on the prior year, while gross profit declined 14 per cent to £895.2 ...