Boohoo bumps up full-year guidance after sales rise

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Boohoo Karen Millen profit guidance
Boohoo will report its first-half results on September 25
// Boohoo expects full year sales growth to be between 33% to 38%
// The group’s EBITDA margins for the financial year are expected to remain at around 10%
// Boohoo will report its first-half results on September 25

Boohoo has raised its full-year guidance following a good performance in the first half of its financial year.

In a trading update, the fast-fashion retailer said sales in the first half of the year had been ahead of expectations with strong revenue growth.

Consequently, the group now expects its full year sales growth to be between 33 per cent and 38 per cent compared to previous guidance of 25 per cent to 30 per cent.

The group’s EBITDA margins for the financial year are expected to remain at around 10 per cent.

Last month, Boohoo acquired the online business of fashion retailer Karen Millen in a bid to attract a different age group.

In 2018, it brought in revenue of £856.9 million, which was almost 50 per cent higher than the previous year.

This latest guidance implies 2019 revenues of up to £1.18 billion.

Boohoo will report its first-half results on September 25.

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