Boohoo Group Revenue Jumps 44%
Boohoo saw group revenue increase 44% in the four months to December, indicating a strong trend that shoppers are choosing online over the high street.
The company said it will invest in its “proposition, operations and infrastructure to capitalise on the opportunity”, as the brand begins to infiltrate its way on to mainstream consumers.
Boohoo Group, brand owner of boohoo, PrettyLittleThing and Nasty Gal, recorded 54.2% gross margin during the period, up 170bps.
Boohoo saw revenue total £163.5m, up 15%. Meanwhile, PrettyLittleThing’s revenue was £144.2m, up 95%, while revenue at Nasty Gal was £20.6m, up 74%.
The group commented: “We are delighted to be reporting yet another great set of financial and operational results and would like to say a very big thank you to all our team and customers. 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.”