- Boohoo sales rise 45%
- UK sales rise 45%
- Full-year sales forecast increased to 35%
Fashion etailer Boohoo has delivered significant sales growth across its UK and international markets over the final quarter.
Boohoo reported an overall sales rise of 45% in the four months to December 31, reaching £73.6m. The etailer’s UK sales climbed 45% to £49.7m.
The etailer also delivered significant growth in its international markets as its European sales and international sales rose 33% and 52% respectively.
Boohoo’s gross margin was down to 57% following investments in price and customer proposition.
The online retailer has increased its full-year sales forecast from 30% to 35%.
Boohoo’s joint chief executives Mahmud Kamani and Carol Kane said: “We have continued to optimise the mix of promotional and marketing spend to drive strong retail growth, reducing the proportion of marketing expenditure.
“Our investments in the customer proposition have resulted in higher conversion rates, increased order frequency and lower customer acquisition costs.
“Operational successes include the new warehouse extension entering into full service, giving us the capacity required for business expansion, and the new UK app, which has improved the overall shopping experience.”