Boohoo sees revenue increase by 44%
Online fashion retailer Boohoo saw its revenue increase by 44 percent to over 1.4 billion euros last year. There was strong revenue growth across all regions, with international revenue now accounting for 45 percent of the group’s total sales.
Last year, the international revenue made up for 43 percent, so that’s an increase of 2 percentage points during the twelve months prior to the end of February this year. And where Boohoo Group’s sales grew 48 percent last year, now it’s 44 percent.
In the United Kingdom, the company’s sales grew 39 percent, while abroad revenue went up 51 percent, the online fashion retailer announced.
Revenue development per brand
When we take a look at the different brands owned by the Boohoo group, it shows that boohoos revenue increased by 38 percent to about 688 million euros. Revenue generated by PrettyLittleThing went up 38 percent and was worth 591 million euros. And Nasty Gal saw its revenue increase by 106 percent to little over 113 million euros.
A strong end to last year
“We saw a strong end to the financial year ended 29 February 2020 and in the first two weeks of the new year this trading momentum was maintained. Since the middle of March, trading has been mixed, as a result of the impact of the COVID-19 pandemic, initially with a marked decrease in year-on-year growth”, the company commented.
“Performance has improved in more recent weeks and we are now seeing improved year-on-year growth of group sales during April. We remain cautious regarding our outlook, as a result of the uncertainty caused by the COVID-19 pandemic.”