Boohoo raises sales guidance after strong Christmas quarter

The online fashion specialist generated a sales rise of 44% to £328.2m across the group in the quarter to December 31, when gross margin advanced 170bps to 54.2%.

Boohoo said that group revenue growth for the full year is expected to be 43% to 45%, ahead of previous expectations of 38% to 43%. Adjusted EBITDA margins are anticipated to be between 9.25% and 9.75%, a narrowing of the previous range of 9% to 10%. 

At the core Boohoo business sales climbed 15% to £163.5m and gross margin in the period was up 150bps to 52.2%.

PrettyLittleThing’s revenue rose 95% to £144.2m with gross margin of 56.4%, up 110bps.

At Nasty Gal sales advanced 74% to £20.6m and gross margin dipped to 54.4% from 55.3%.

The UK accounted for the majority of group sales, delivering £180m of the total over the four months, followed by the US where sales of £70.4m were achieved.

Joint chief executives Mahmud Kamani and Carol Kane were “delighted to be reporting yet another great set of financial and operational results”.

They 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.”