Boohoo reports ‘strong growth’ over Christmas
Boohoo has reported a period of “strong growth” across all its brands in the four months ended 31 December.
Total group revenue grew by 44% to £473.7m across all geographical regions, while total UK revenue increased by 42% to £255.8m. The US division also saw revenue increase by 57% to £110.6m during the period.
The online fashion retailer reported that boohoo revenue was up 42% to £232.6m, while Pretty Little Things revenue increased 32% to £190.8m. Meanwhile, Nasty Gal revenues jumped by 102% to £41.5m.
The company also praised the “excellent” operational performances in its warehouses, as well as a “successful” integration and re-launch of MissPap, Karen Millen and Coast over the four-month period.
Group revenue growth for the financial year to 29 February 2020 is now expected to be between 40% and 42%, ahead its previous guidance of 33% to 38%. The retailer also expects its group adjusted EBITDA margin to rise to 10.2%, ahead of its previous guidance of 10%.
CEO John Lyttle said: “I am delighted to report the group has enjoyed record trading in the last four months of 2019. All of our brands have performed exceptionally well and delivered strong market share gains.
“We have continued to see operating leverage in our more established brands, and will continue to invest into them and our newly-acquired brands.”
He added: “The newly-acquired brands, MissPap, Karen Millen and Coast, are showing great promise and open different target markets for the group, in line with our strategy to build our multi-brand platform.”
