Boohoo buoyed by Black Friday bonanza
A stellar Black Friday performance helped fast fashion e-tailer Boohoo achieve record revenues for all its brands in the four months ending 31st December.
Boohoo was up 25% YOY to £142.6 million, with year-to-date revenue at £324.4 million, up 34%. PrettyLittleThing weighed in with £73.8 million, an increase of 191% on the prior year, and Nasty Gal with £11.9 million. The pureplay, which has seen its share price jump more than 170% since it floated on the London Stock Exchange in 2014, said revenues should grow 90% for the year to February, ahead of its previous forecasts revised in September and June.
Mahmud Kamani and Carol Kane, Boohoo joint Chief Executives, said: "The Black Friday period was our most successful ever and we traded well throughout the period under review. boohoo has continued to perform well, delivering strong revenue growth on increasingly challenging comparatives last year. PrettyLittleThing has continued to deliver exceptional results and Nasty Gal is making excellent progress in its first year. Our focus remains on the customer proposition: offering the best range of the latest fashion at affordable prices, coupled with great customer service.”