Tuesday 22 October 2019

Online fashion retailer Boohoo sees sales jump

Boom time: Boohoo has posted a 39pc jump in sales to £254.3m (€285m) for its first quarter to May 31
Boom time: Boohoo has posted a 39pc jump in sales to £254.3m (€285m) for its first quarter to May 31
Independent.ie Business Desk

Online fashion retailer Boohoo has posted a 39pc jump in sales to £254.3m (€285m) for its first quarter to May 31.

The group saw UK sales rise 27pc and international sales surge 56pc.

Its core Boohoo brand notched up a 27pc leap in revenues, with growth of 42pc for PrettyLittleThing and 153pc for Nasty Gal.

The buoyant first-quarter performance means it remains on track for group revenue growth of 25pc to 30pc over the full year, it added.

John Lyttle, chief executive of Boohoo, said: "The group has made a strong start to the year as we continue to disrupt and capture market share in the UK and internationally across all our brands.

"I'm delighted that the group topped the UK Hitwise rankings in May for the first time, demonstrating how our multi-brand strategy is really capturing our customers' attention.

"We have ambitious plans for the group, and continue to invest to ensure that our scalable multi-brand platform is well-positioned to disrupt, gain market share and capitalise on the global opportunity in front of us."

PA Media

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