Thursday, June 24, 2021

Boohoo revenues soar a trendy 35%

Revenue and pre-tax profit at British fashion e-tailer jumped 35% in its first half, reaching £90.8m: a 4% increase on the same period last year. Sales growth was driven by “acquiring new customers” through investments in “price, promotions and marketing spend”. 

The online fashion pureplay has come a long way since Christmas 2014, when heavy discounting and delivery problems forced the FTSE 250-listed company to issue a profit warning. Subsequently, shares fell 40% in January.   

Boohoo, which designs, sources, markets and sells own-brand clothing, shoes and accessories online to a core market of 16-24 year-olds in Britain and globally, said it now has 3.5m active customers, up 32%  



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