boohoo group Plc (GB:BOO) has released an update.
Boohoo group plc has announced operational changes to its US market strategy, aiming for sustainable growth by fulfilling all US orders from its advanced UK distribution center and discontinuing the use of its Pennsylvania facility. The company has seen positive results from a trial offering a broader product range to US customers and is exploring new market strategies, including partnerships with major US brands and the launch of Nasty Gal in Nordstrom stores. These changes are expected to lead to a write-down on the balance sheet but will also reduce ongoing costs over the medium term.
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