(Bloomberg) -- Boohoo Group Plc recorded the first UK sales decline in its history as the online fashion retailer grapples with intense competition, supply-chain woes and waning pandemic consumer trends.  

The fast-fashion company reported a 1% fall in its British home market and an 8% drop in overall sales in the first quarter, according to a trading update Thursday. Boohoo blamed the fall on tough comparisons with last year when people were spending more online during lockdowns. 

Boohoo stuck to its guidance for the full year of low single digit revenue growth, which would be the smallest increase since its initial stock sale in 2014. Boohoo has also predicted that profitability will be much lower than its historical average. 

Boohoo warned last month that sales growth may grind to a halt in the first half as customers coming out of lockdown return more clothes and the nascent US business battles with supply chain disruption and freight costs. The company, whose other brands include PrettyLittleThing and Nasty Gal, already cut its sales projections twice last year and is recovering from a labor supply scandal in 2020 which sparked governance changes.

The shares have fallen 47% so far this year.

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