Home / Knowledge / News / Retail / Boohoo Group revenue soars 48% in fiscal 2019

Boohoo Group revenue soars 48% in fiscal 2019

04
May '19
Pic: Boohoo
Pic: Boohoo
The revenue of Boohoo Group during fiscal 2019 has been recorded at £856.9 million, up 48 per cent from last year. The UK-based retailer has witnessed strong revenue growth across all geographies with UK up 37 per cent and international up 64 per cent. In the reported period, the gross margin increased to 54.7 per cent against 52.8 per cent last year.

The group has performed exceptionally well during the year. Revenues have increased across all brands in all regions. PrettyLittleThing continues to perform exceptionally well, with a growth rate of 107 per cent. Market share is increasing, driven by the customer proposition of great fashion at unbeatable prices, supported by an engaging social media presence and successful celebrity endorsements. Gross margins have improved as a result of stronger sell through, tighter control on stock cover and refinement of the customer proposition. Substantial investments have been completed to secure warehouse capacity for growth and improve the future efficiency of the Burnley warehouse with automation.

At Boohoo, revenue for the year rose to £434.6 million, up 16 per cent on the previous year, with growth in all key focus markets. International growth continues to be strong and is continuing to gain market share in the UK. Gross margin increased by 170 bps to 52.9 per cent, driven by improved stock control and refinement of the customer proposition.

The revenue growth of Nasty has been strong across all territories with a growth rate of 96 per cent, increasing revenue to £47.9 million. In the brand's principal market, the US where the brand originated, growth has been very strong. The next largest market is the UK, where brand awareness has increased substantially and growth has been exceptionally high. Gross margin was 56.7 per cent, a reduction on the previous year but in line with our proposition strategy.

"I am very excited to have joined the boohoo Group at this key stage of its growth, with the group's disruptive and proven business model having delivered yet another excellent set of financial and operational results. In my short time within the business, I am delighted to have been able to meet a number of hugely talented people and have already been able to see many parts of the business. This has confirmed my belief and optimism that the group's investments into its brands and infrastructure have allowed it to develop a scalable multi-brand platform that is well-positioned to disrupt, gain market share and capitalise on what is a truly global opportunity," John Lyttle, CEO, said.

Trading in the first few weeks of the financial year has been encouraging. Group revenue growth for the financial year is expected to be 25 to 30 per cent with an adjusted EBITDA margin of around 10 per cent and capital expenditure in the region of £50 to £60 million.

"Looking beyond the current year, we will continue to make investments across the group as part of our vision to lead the global fashion e-commerce market. Whilst this will require continued investments in people and infrastructure, we believe that the benefits of our multi-brand platform will continue to generate economies of scale, allowing us to target sales growth of 25 per cent per annum, with an adjusted EBITDA margin of around 10 per cent over the medium term," the company said. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Trade weakness to extend to second quarter: WTO indicator

Textiles | On 27th May 2019

Trade weakness to extend to second quarter: WTO indicator

World trade growth is likely to be weak in 2019 second quarter,...

End govt intervention in agriculture: Indian economist

Textiles | On 27th May 2019

End govt intervention in agriculture: Indian economist

The new Indian Administration should end government intervention in...

Pic: Shutterstock

Textiles | On 27th May 2019

Welspun India sees 46% growth in domestic retail business

Welspun India Limited (WIL), part of the $2.3 billion Welspun Group,...

Interviews View All

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Vasudevan LK,

Vasudevan LK

Epson is a world leader in digital imaging and printing solutions....

Keith Mcmillan, Bebop Sensors

Keith Mcmillan
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search