Boohoo closes U.S. distribution center, shifts fulfillment to UK, extends delivery times.

Boohoo, a British online fashion retailer, will close its U.S. distribution center in Pennsylvania by November 11, shifting order fulfillment to its Sheffield, UK facility. This change aims to enhance product offerings despite extending delivery times to 8-10 days. The closure will result in a write-down on Boohoo's balance sheet and reflects a broader strategy to reduce costs. The company’s shares have declined by 30% this year, with further details expected in their half-year report.