Boohoo upbeat for rest of the year after “record” Black Friday

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Boohoo Black Friday trading update
Boohoo said it was "comfortably in line" with forecasts for the rest of the year, having posted a 43% jump in revenues in the six months to August 31.
// Boohoo has hailed “strong” sales since the end of August
// It said it benefited from a record performance across the Black Friday weekend
// Boohoo added its recently-acquired brands – Karen Millen, Coast & MissPap – have all been “successfully integrated” onto its platform

Boohoo has hailed “strong” sales since the end of August after it benefited from a record performance across the Black Friday weekend.

In a trading update this morning, the online fashion retailer said it was “comfortably in line” with forecasts for the rest of the year, having posted a 43 per cent jump in revenues in its half-year period ending August 31.

It added that its recently acquired brands – Karen Millen, Coast and MissPap – have all been “successfully integrated” onto its platform.


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Boohoo said that initial ranges for the brands have been “very well received” as it would continue to broaden its product ranges as part of its growth strategy.

Boohoo purchased Karen Millen and Coast out of administration in August, before shutting their 32 retail and stores and launching the brands online in October.

It has also previously hailed “rapid” sales for MissPap, an online retailer that it acquired in March.

Boohoo – which also owns PrettyLittleThing and Nasty Gal – said its warehouses have had a strong operational performance as they prepare the busy Christmas period.

The online retail giant also posted an 83 per cent jump in pre-tax profits to £45.2 million when it reported its first half profits in September.

Boohoo has seen its shares lift higher in 2019, recently taking its market value past rival Asos for the first time, on the back of continued rapid growth across its brands.

With PA Wires

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