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Boohoo revenues up 22% in first two months of 2015

Online fashion retailer Boohoo.com increased its revenue by 22% in the two months to end February.

GENERAL MERCHANDISE

Boohoo revenues up 22% in first two months of 2015

Online fashion retailer Boohoo.com increased its revenue by 22% in the two months to end February.

The company said mobile sessions now represent almost half of all traffic and daily unique visitors to its website. Following the launch of Boohoo’s responsive website in September, mobile conversion improved by over 40%.

After a challenging third quarter in the UK, Boohoo said it had focused on driving customer conversion and margin during the two month period. The company has continued to gain market share in the UK, achieving a 2.17% share of traffic in February 2015 according to Hitwise, which is a 12% improvement on the prior year.  

Boohoo’s Rest of Europe business performed well in the period with 46% constant currency growth as the company focused on fewer key markets.

The company reported that revenue in the year to 28 February grew by 27%.  

Boohoo joint chief executives Mahmud Kamani and Carol Kane said: "We continue to build our business for the long term, as we stated at our IPO last year, and our clear objective is to deliver sustainable growth.  We remain absolutely focussed on execution and are increasing our marketing spend in FY16 to drive momentum in the business."

 

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