THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Boohoo reports strong uplift in sales and profit

Online fashion retailer Boohoo has seen a surge in its first half sales and profit as it continues to experience strong international growth.

FASHION

Boohoo reports strong uplift in sales and profit

Online fashion retailer Boohoo has seen a surge in its first half sales and profit as it continues to experience strong international growth.

In the six months to 31 August, pre-tax profit climbed by 41% to £20.3 million while revenue increased by 106% to £262.9 million.

Revenue at Boohoo was up 43% to £181.8 million while revenue at Pretty Little Thing rose by 289% to £72.7 million.

Boohoo joint chief executives Mahmud Kamani and Carol Kane said: “Boohoo's revenue has continued to grow across all geographies, with international growth being strongest as we continue to increase our market share overseas, and the newly acquired Pretty Little Thing brand has exceeded our growth expectations. Pretty Little Thing is fast gaining recognition amongst our target consumers as a highly desirable fashion brand in the UK, and its international growth is very encouraging, confirming its considerable potential.”

Boohoo said the integration of Pretty Little Thing and its newly acquired Nasty Gal brand had been a success and had added diversity to the business.

The company said it had continued to make significant investment in its IT infrastructure and warehouse capacity in the period as it executes its growth strategy.

Kamani and Kane added: “We will continue to invest in the customer proposition, further develop our brands and maximise the considerable opportunities that a global marketplace affords us. The strong performance in the first half-year and our expectations for the second half have given us confidence to raise guidance for the full year."

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 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process