The reasons why Boohoo is in a strong position than its fast fashion rival ASOS have been outlined by experts. The analysis comes after both companies suffered a challenging end to last week as they revealed their struggles to keep shoppers spending.
Manchester-headquartered Boohoo posted its first ever drop in UK sales while ASOS warned that its profits this year could fall to £20m, down from more than £190m in the prior 12 months. Both companies experienced a surge in demand during the height of the Covid-19 pandemic but look to be finding it harder to maintain those levels of interest from potential customers.
In analysis sent to the Manchester Evening News, experts at Panmure Gordon have had their say on how Boohoo, despite its recent troubles, is still in a better position than its closest rival.
