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Online fashion retailer Boohoo’s net sales up 55%

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Image Courtesy: redagency.com.au

Online fashion retailer Boohoo recently unveiled its sales report for the four-months period ended 31st December, 2016.

In the reporting period, the company’s net sales totalled £ 114 million, up by 55 per cent as against £ 73 million last year. Region wise, UK sales rose 31 per cent to £ 65 million compared to £ 49 million in the comparable period last year. Continuing the trend in ROE, USA and ROW…, Boohoo’s sales in ROE stood at £ 13 million, witnessing a jump of 63 per cent from £ 8 million; USA sales reached £ 19 million in the above-mentioned period while ROW region generated £ 15 million.

The fashion retailer also reported net sales for the eleven-month period of FY 2016. Net sales in this period soared 47 per cent to £ 241.6 million from previous year’s £ 164.4 million. The UK region reported sales worth £ 146.7 million with 35 per cent increase. ROE generated net sales amounting to £ 28.6 million, up by 51 per cent from last year. The USA also gained momentum with net sales of £ 13.8 million while sales for ROW region stood at £ 31.3 million.

Also ReadOnline fashion retailer Boohoo buys PrettyLittleThing

Mahmud Kamani and Carol Kane, Joint CEOs, Boohoo commented, “Trading in the four months to 31 December 2016 has been strong across all regions. Our strategy offering great pricing, enticing promotions and an ever-broader range of the latest fashion continues to drive growth and enhance customer lifetime value. In particular, sales momentum in the USA has continued robustly, helped by our strong customer proposition across the Black Friday weekend.  We are delighted to have completed the acquisition of a majority stake in PrettyLittleThing on 3rd January, 2017 and we welcome the team to the enlarged boohoo.com group. This is a fantastic brand to complement boohoo.com‘s own brand, and we look forward to building on its success.”

The company now expects its revenue growth to be between 43 per cent and 45 per cent in the year to 28th February 2017, above previous guidance of between 38 per cent and 42 per cent. This is attributed to strong trading through Black Friday continuing into the Christmas season.

 

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