15th Jan 2019 08:59
LONDON (Alliance News) - Boohoo Group PLC on Tuesday reported a strong increase in revenue driven by a good trading performance across all its brands and geographies.
The online fashion retailer upped its earnings expectations on the back of the strong trading achieved. It now expects revenue growth between 43% and 45% on last year, ahead of its previous forecast of an increase between 38% and 43%.
For the four months to the end of December, which include Black Friday and Christmas, Boohoo's revenue increased 44% to GBP328.2 million from GBP228.2 million.
In the UK, the retailer's core market, revenue was up 33% to GBP180.0 million, while the rest of Europe saw sales up 57% to GBP44.4 million.
In the US revenue rose 78% to GBP70.4 million while in the rest of the world was up 35% to 33.4 million.
Considering the 10 months to December 31, Boohoo's revenue jumped 47% to GBP723.5 million from GBP491.1 million a year ago.
By brand, the company's core brand boohoo reported sales up 15%, PrettyLittleThing increased revenue by 95% and Nasty Gal by 74% in the four-month period to the end of 2018.
Mahmud Kamani and Carol Kane, Joint Chief Executive Officers said: "We remain firmly focused on continuing to provide our customers with great fashion at unbeatable value. The global growth opportunity is significant and we will be addressing it in a controlled way - investing in our proposition, operations and infrastructure to capitalise on the opportunity."
Boohoo shares were trading down 2.6% at 189.60 pence each.
Related Shares:
Boohoo