In a few frantic weeks early last year, online fashion retailers Asos and Boohoo upended years of British high street history as they picked over the remains of bankrupt groups Arcadia and Debenhams. Since then, life has become much tougher for the fast fashion brigade. Shortly before the pandemic, Boohoo’s market value overtook that of British high street behemoth Marks and Spencer.
Fashion retailer swings from £106m profit to £16m loss in six months to February, while share prices rise
Asos is preparing for a £14m hit as a result of its decision to halt sales in Russia.