Online retailer posts strong sales as it storms past high street rivals
Boohoo has posted strong sales in its first financial report of 2018 as the online retailer has stormed past its nearest high street rivals.
The group, founded in Manchester in 2006, saw revenue top £142 million for the four months ended 31 December 2017, up 25% from the same period last year.
In turn, the company has posted year‐to‐date revenue of £324 million, up 34% on the corresponding quarter in 2017.
Mahmud Kamani and Carol Kane, joint CEOs, commented:”We are delighted to report another set of strong financial and opera onal results, with record sales in the four months to December across all our brands.
“The Black Friday period was our most successful ever and we traded well throughout the period under review. boohoo has con nued to perform well, delivering strong revenue growth on increasingly challenging comparatives last year”
Boohooo recently completed the takeover of fast-growing smaller rival PrettyLittleThing, which was founded by Mr Kamani’s son, Umar.