THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
• Omnichannel Futures Conference 2020
• Online Conversion Summit 2020
• Future of Retail Marketing 2020
• The HR Summit 2020
• AI in Retail Conference 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Boohoo full year profit up 40%

Boohoo, the online fashion retail group, has seen its pre-tax profit climb by 40% to £43.3 million in what it described as an outstanding year. In… View Article

FASHION

Boohoo full year profit up 40%

Boohoo, the online fashion retail group, has seen its pre-tax profit climb by 40% to £43.3 million in what it described as an outstanding year.

In the year to 28 February, group revenue rose by 97% to £579.8 million. This included 95% growth in the UK and an uplift of 99% overseas.

At Boohoo revenue rose by 32% to £374.1 million while the Pretty Little Thing brand, which has been integrating into the group, increased its revenue by 228% on a 12-month comparative period to £181.3 million. Meanwhile, revenue at the group’s recently acquired Nasty Gal brand was £24.4 million.

Mahmud Kamani and Carol Kane, joint chief executives of Boohoo, said: “The group made great progress during the year, integrating a new company, Pretty Little Thing, and a new brand, Nasty Gal, into the Boohoo group.

“Revenue from Boohoo continued to grow strongly, whilst there has been an exceptional performance from Pretty Little Thing, and Nasty Gal exceeded our estimates in its first year.

“Against a backdrop of difficult trading in the UK clothing sector, the group continued to perform well, gaining market share in the expanding online sector. Our international business showed higher growth rates and we are pleased with its gathering momentum.”

During the period, Boohoo grew its number of active customers by 22% while Pretty Little Thing saw an uplift of 228%.

The group said trading in the first few weeks of the new financial year has been “strong” and that it expects group revenue growth for the full year to be between 35% and 40% with an adjusted EBITDA margin of between 9% to 10%.

It also announced that Pretty Little Thing will move into its own warehouse during the first half. Kamani and Kane added: “This represents a significant milestone as we develop a distribution network capable of generating £3 billion of net sales globally, in line with our vision to lead the fashion ecommerce market.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Online Conversion Summit 2020
Online Conversion Summit 2020
April 30 2020
The Hallam Conference Centre, London W1W 6JJ
The Retail Bulletin Online Conversion Summit 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2020
AI in Retail Conference 2020
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY