Online fashion retailer Boohoo reports record sales
Online fashion retailer Boohoo has upgraded its forecast for the second time in four months after record sales.
In an update to the markrt the Manchester-based group which runs Boohoo.com, PrettyLittleThing and Nasty Gal reported record revenues for all brands in the four months ending December 31.
Revenue at Boohoo was up 25 per cent to £142.6 million against the previous year, with year-to-date revenue at £324.4 million, up 34 per cent.
PrettyLittleThing saw revenue reach £73.8 million, up 191 per cent on the prior yearm while Nasty Gal’s revenue was £11.9 million.
As a result, Boohoo said it now expects full-year sales growth of around 90 per cent, up from its September estimate of 80 per cent and well ahead of its initial 60 per cent forecast.
Boohoo’s rapid growth has seen its share price increase more than 170 per cent since its IPO in 2014, and it is now the second-most valuable company on London’s junior Aim market.
Mahmud Kamani and Carol Kane, Boohoo joint chief executives, said: “We are delighted to report another set of strong financial and operational results, with record sales in the four months to December across all our brands.
“The Black Friday period was our most successful ever and we traded well throughout the period under review. boohoo has continued to perform well, delivering strong revenue growth on increasingly challenging comparatives last year.
“PrettyLittleThing has continued to deliver exceptional results and Nasty Gal is making excellent progress in its first year.
“Our focus remains on the customer proposition: offering the best range of the latest fashion at affordable prices, coupled with great customer service.