{"id":224546,"date":"2023-01-23T17:00:25","date_gmt":"2023-01-23T17:00:25","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=224546"},"modified":"2023-01-23T19:58:10","modified_gmt":"2023-01-23T19:58:10","slug":"in-the-style-shares-drop-more-than-20-following-profits-warning","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/in-the-style-shares-drop-more-than-20-following-profits-warning\/","title":{"rendered":"In The Style shares drop more than 20% following profits warning"},"content":{"rendered":"
In The Style, <\/a><\/span>the influencer-led womenswear brand, saw its shares plunge by 21.25% today\u00a0following a\u00a0profits warning on Friday.<\/strong><\/p>\n The Manchester-based company said that total revenue for the quarter ending 31 December 2022 had declined by 22% on the prior year. Direct-to-consumer revenue declined by 13% and gross margin for the quarter was lower than its expectations \u2013 a performance, it argued was \"broadly in line with several of the group's peers\".<\/p>\n In The Style said its performance had been impacted due a tough December, during which postal strikes led to disrupted deliveries, and the intensifying cost of living squeeze led to customers tightening their purse strings. As a result the company now expects full year sales to be in the region of \u00a346 million with an a<\/span>djusted EBITDA loss of between \u00a34.25 million and \u00a34.75 million.<\/span><\/p>\n Online fashion giants Boohoo Group and ASOS have both cited delivery disruption as a cause for falling sales during the festive period as shoppers pulled back from e-commerce, preferring to shop in-store to ensure their Christmas purchases arrived on time. On 19 January, Boohoo said its most recent quarterly sales were down 11% <\/a><\/span>while ASOS reported sales down 3% in the four months to 31 December.\u00a0<\/a><\/span><\/p>\n Unlike those two businesses, In The Style operates a unique influencer-led model via which it creates capsule collections in partnership with high profile influencers and celebrities and offers them a financial share in the success of the collection.<\/p>\n