Boohoo sales soar on international growth
Boohoo sales surged 106 per cent in the half year to August, thanks to an expanding international customer base.
The UK-headquartered online fashion retailer achieved £262.9 million sales during the six months and lifted pre-tax profit by 41 per cent to £20.3 million.
As well as offshore expansion, the company benefitted from the acquisition of Pretty Little Thing, whose turnover rose a massive 289 per cent to £72.7 million.
Turnover by Boohoo’s other recent acquisition Nasty Gal also improved, reaching £8.4 million.
CEOs Carol Kane and Mahmud Kamani believe sales will increase at an even faster rate for the remainder of the year.
“Boohoo’s revenue has continued to grow across all geographies, with international growth being strongest as we continue to increase our market share overseas, and the newly acquired Pretty Little Thing brand has exceeded our growth expectations,” the pair said in a statement.
“PrettyLittleThing is fast gaining recognition amongst our target consumers as a highly desirable fashion brand in the UK, and its international growth is very encouraging, confirming its considerable potential.”