Yahoo Finance In The Style cautions on profits as supply chain woes hit the fashion firm
Online womenswear retailer In The Style, known for its collections with celebrities such as Stacey Solomon, has cautioned on profits amid supply chain disruption.
Shares in the AIM-listed firm plunged more than 14%, or 28.26p to 167.74p, despite it cheering a 45% sales leap in April to August from a year earlier.
It has benefited for higher demand from occasionwear as people returned to social events.
But In The Style is grappling with headaches. Difficulties include a higher rate of returns.
The company, led by founder Adam Frisby, also said: “In The Style has not been immune to the impact of the widely documented freight and supply chain disruption during recent months. Whilst the group has sought to utilise the most efficient channels wherever possible to ship product, increased freight costs and disruption to the timing of shipments are expected to remain for at least the remainder of the current financial year.”
It cautioned all of this will impact the group's profitability.
House broker Liberum had previously guided pre-tax profits of £3.1 million were expected for the year to March 2022.
In The Style, which is known for having a 4-28 size range, floated at 200p per share in March.
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