Breakfast briefing: Boohoo, Coast and more

Retail news round-up: Boohoo reports rise in sales and Coast, Oasis and Warehouse report declining sales in Ireland.

Boohoo has exceeded the city forecasts with a 55% rise in sales to £114.3m in the four months to December 31, The Telegraph reported.

Sales in the UK increased 31% to £65m.

The strongest growth amongst Boohoo’s international markets was seen in the US with a 230% rise to £19.7m.

Boohoo is expected to report a sales rise of between 43% and 45% in the full year to end of February 2017.

Coast Stores Ireland Limited has reported a 4% decline in sales to €7.2m (£6.2m) for the year ending February 27, 2016, The Irish Times reported.

Pre-tax profit for Coast Ireland was down from €1.1m to €700,000.

Oasis Fashions Ireland Limited posted 2% drop in annual sales to €19.1m with a fall in pre-tax profit to €200,000.

Warehouse Fashion Ireland Limited saw a 3% decline in sales to €8.5m.

Administrators for Kaupthing are believed to be seeking new owners for the retailers.

A sale of the trio is expected to realise less than £100m.

Spar has warned of slowdown in growth in convenience sector.

Spar, which reported a 4.5% rise in sales for the year to April 30, said that the sector was reaching maturity.

However, the convenience sector is still expected to grow by 4.4% from £37.5bn to £41.9bn over the next five years.

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