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UK's Boohoo to stop supplying US customers from within US
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UK's Boohoo to stop supplying US customers from within US
Sep 11, 2024 4:38 AM

LONDON, Sept 11 (Reuters) - British online fashion

retailer Boohoo said it would give up on supplying its

customers in the United States from a U.S. centre and would

instead fulfil orders direct from the UK, resulting in a

write-down.

Boohoo said on Wednesday it would cease operations at

its U.S. distribution centre in Pennsylvania by Nov. 11, just

over a year after it started operations.

The group had previously described the site as a

"gamechanger" as it would slash delivery times to American

shoppers.

However, it will now fulfil all U.S. orders from its

distribution centre in Sheffield, northern England.

It said the move would enable it to broaden its product

offering for U.S. customers.

It will, however, result in a write-down on its balance

sheet against the investments and costs associated with the U.S.

operation as well as certain one-off exceptional cash costs.

Boohoo, whose shares have fallen 30% so far this year,

said it will provide further details at its half-year results.

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