Boohoo witnesses strong revenue growth for 4 months ending 31 December 2019

by Apparel Resources News-Desk

14-January-2020  |  1 min read

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Boohoo has done record trading in the last 4 months of the previous year (ending 31 December 2019).

The UK-based online fashion retailer witnessed a 44 per cent surge in revenue across all major locations during the said period – the figure being US $ 614.8 million.

The firm in its statement said that the gross margin for 4 months was 53.5 per cent while the revenue jumped by 42 per cent to clock US $ 301.8 million.

The year-to-date revenue, significantly, rose by 38 per cent to touch US $ 666.5 million during the 4 months.

More on this, John Lyttle, CEO, Boohoo, averred “I am delighted to report that the group has enjoyed record trading in the last 4 months of 2019. All of our brands have performed exceptionally well and delivered strong market share gains.”

He added “The newly-acquired brands, MissPap, Karen Millen and Coast, are showing great promise and open different target markets for the group, in line with our strategy to build our multi-brand platform.”

The firm, reportedly, said that the group revenue growth for the financial year to 29 February 2020 is expected to be around 42 per cent.

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