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Home / Knowledge / News / Apparel/Garments / Fashion retailer Boohoo's sales zoom 55% in 4M to Dec 31
Fashion retailer Boohoo's sales zoom 55% in 4M to Dec 31
12
Jan '17
Driven by good Christmas sales and also strong growth in the US, sales at UK online fashion retailer Boohoo zoomed 55 per cent year over year to £114 million in the four months to December 31, 2016. These sales were mainly driven by a steep 230 per cent surge in sales in the US at £19.6 million and a 63 per cent rise in Europe, except UK to £14 million.

Sales in its home country, the UK rose slower at 31 per cent to £65 million, while sales from the rest of the world stood at £15.7 million, up 66 per cent.

Following these results, the fashion retailer upwardly revised its full fiscal sales guidance and now expects sales growth of between 43-45 per cent as against the earlier guidance of between 38-42 per cent sales growth.

"Trading in the four months to December 31, 2016 has been strong across all regions,” joint CEO’s Mahmud Kamani and Carol Kane said. “Our strategy offering great pricing, enticing promotions and an ever-broader range of the latest fashion continues to drive growth and enhance customer lifetime value.” (AR)

Fibre2Fashion News Desk – India


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