Boohoo boasts strong trading performance

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Boohoo

Boohoo has issued a trading update in which it assured shareholders that its financial performance remains stable.

The news follows this morning’s shock profit warning from fellow fashion etailer Asos, which lowered its growth forecast for the year.

Boohoo said that Black Friday sales continued to trade “comfortably in line with market expectations”.

The firm, which operates the eponymous online retailer as well as PrettyLittleThing and Nasty Gal, said it would provide an update for the four month trading period to December 31 on January 15.

Asos said its profit warning was due to economic uncertainty following a weak trading period in November.

While it anticipates a sales increase of 15 per cent, this is lower than the usually-predicted 20-25 per cent rise.

The news of Asos’ warning has left a dent in its share price, as it plunged almost 40 per cent this morning.

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2 COMMENTS

  1. The ASOS customer is not the same as Boohoo – PrettyLittleThing and I believe staff/managment are far more dynamic at Boohoo which is still a much smaller company than Boohoo

    Recent selloff provides a buying opportunity in my view and results should be good in Jan.

    Vince Stanzione

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