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MANCHESTER, United Kingdom — Boohoo Group said it was trading comfortably in line with market expectations after the online fashion retailer saw record Black Friday sales.
Boohoo's comments come as rival ASOS cut its annual sales growth and profit margin forecasts earlier on Monday, becoming the latest British retailer to highlight poor November trading.
Shares of Boohoo, which sells own-brand clothes, shoes, accessories and beauty products, fell as much as 20 percent after the trading update from ASOS. The stock recovered slightly after its own statement but was still down 10 percent at 08:23am.
By Arathy S Nair; editor: Saumyadeb Chakrabarty.