Boohoo, the British fashion label, seems to have ended 2020 on a happy note!
The online fashion retailer has posted an impressive 40 per cent year-on-year (Y-o-Y) jump in its sales to clock £660.8 million in the 4 months that ended 31 December 2020.
Sales in the UK alone saw a good jump of 40 per cent Y-o-Y to account for £357.2 million of total sales.
Talking of 10 months up to 31 December 2020, Boohoo witnessed its revenue reach £1.47 billion, which is a 42 per cent surge from what it was in during the same period in the previous year.
There couldn’t be a better way to end the year for the retailer, which was mired in controversies all through 2020.
After good 4 months, Boohoo now hopes to see sales growth of 36 to 38 per cent for the full financial year up to 28 February 2021. This is a jump from the previous guidance of 28 to 32 per cent for the year.
Regionwise too, the retailer saw its Y-o-Y sales increase by good numbers. While it was 52 per cent jump in the US, the rise was 30 per cent in Europe.
Meanwhile, the Group also said that it has implemented operational systems to lessen the impact of Brexit on its customer proposition in Europe.