With sales up by 97 per cent to £579.8m, the year to February 28th has been one of spectacular growth for boohoo which also operates PrettyLittleThing and NastyGal, brands it acquired in 2017. The group had achieved a 95 per cent rise in its UK sales, with international market sales rising by 99 per cent. Importantly too, pre-tax profits rose to £43.3 million, as compared to £30.9 million last year. During the year the group had extended its Burnley distribution centre to create greater capacity for future growth.
With 9.8 million customer accounts across the group, the Boohoo brand generated £374.1 million sales, PrettyLittleThing delivered £181.3 million, and NastyGal generated £24.4 million.
The business is now forecasting a rise in revenues of between 35-40 per cent for the current year and says that initial trading has been strong.
Joint CEOs Mahmud Kamani and Carol Kane commented: “The group made great progress during the year, integrating a new company, PrettyLittleThing, and a new brand, Nasty Gal into the boohoo group,” adding “Our strategy will remain focused on proving the best fashion at great prices, coupled with excellent customer service. International expansion will continue as we add more country-specific websites, refine our brands’ customer proposition and raise brand awareness through marketing and social media.”
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