British online retailer Boohoo Group has witnessed a 20 per cent year-on-year (Y-o-Y) rise in sales to £975.9 million.
What’s noteworthy is that the revenue goes up by as much as 73 per cent, when compared to 2019.
As the Group succeeds in reintroducing Debenhams, which it had acquired earlier this year, to larger digital audience, its numbers have constantly been impressive.
The British e-tailer saw its adjusted EBITDA rise by 40 per cent when compared to pre-pandemic numbers. However, Y-o-Y, adjusted EBITDA fell by 5 per cent to £85.1 million.
As far as adjusted profit before tax is concerned, the slump was 20 per cent Y-o-Y to £63.8 million. When compared to the same period back in 2019, the profit before tax rose by 23 per cent.
The e-tailer said that the profitability was affected owing to short-term factors related to pandemic as well as costs associated with the opening of two new warehouses in last one year to handle the increase in demand.
The Group also added that that across the UK, Ireland and France, the consumer demand rose considerably all through August and September.
Consequently, the e-tailer now hopes to see a full year sales growth of 20 to 25 per cent, if it achieves a sales growth of 20 to 30 per cent in the second half of 2021.
Boohoo also hopes that increase in price in freight, logistics and labour is expected to come down as the Group invests in its own infrastructure, including the automation of its existing distribution centre.
Boohoo Group, which owns PrettyLittleThing and Nasty Gal, amongst others, generates revenue of US $ 856.9 million.