Boohoo in bullish mood after strong Xmas

Boohoo reports that like-for-like revenues rose 44% to £328.2 million in the four months to 31st December. In the UK, they jumped 33% to £180 million, whilst US sales were up 78% to £70.4 million.

The online fashion retailer now expects revenues for the year to 28th February to rise by between 43% to 45%, ahead of its previous guidance of 38% to 43%.

Mahmud Kamani and Carol Kane, joint Chief Executives, said: "We remain firmly focused on continuing to provide our customers with great fashion at unbeatable value. The global growth opportunity is significant and we will be addressing it in a controlled way - investing in our proposition, operations and infrastructure to capitalise on the opportunity."

The results closely follow Boohoo issuing a trading statement to reassure investors that all was OK, after a profit warning from rival Asos. Shares in the company plunged in the wake of the Asos announcement.