Boohoo revenues rise but profits fall as market share in UK and US doubles
Fast-fashion giant Boohoo has seen its profits and sales soar compared to pre-pandemic levels, as its market share in both the UK and the US doubled.
For the six months to August 31, 2021, Boohoo recorded sales of £976m, a 20% increase on the first half in 2020 and a 73% increase on the same period pre-pandemic.
Gross profits for the period were £533.3m, up 19% on the same period last year and 73% on a two-year comparison. Adjusted profit before tax was £63.8m, down 20% on the same period in 2020 but 23% higher than pre-pandemic.
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