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Jane Imrie

44 per cent growth for Boohoo after year of acquisitions

Fashion retailer Boohoo has reported ‘strong’ revenue growth during the last four months of 2019.

The group saw a growth in revenue of 44 per cent across all regions, with a 42 per cent rise in UK sales.

All brands within the Boohoo group experienced an increase in revenue, with Nasty Gal having a 102 per cent rise.

As a result of the trading update the group, which in 2019 acquired brands MissPap, Karen Millen and Coast, has adjusted its expected revenue for the financial year ending February to be 40 to 42 per cent, as opposed to the previously expected 33 to 38 per cent.

John Lyttle, Boohoo CEO, commented: “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.

“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.”

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