Boohoo’s profits and sales tumbled in the six months to August 31 as the fast-fashion retailer grappled with macroeconomic headwinds, including soaring cost inflation and a drop in consumer demand.

However, alongside the financial turbulence – which is at historic levels – Boohoo is dealing with some problems of its own making. Notably, sky-high returns rates and glacial delivery times to international customers, which have meant its hard-won crown has started to slip.