Strong start to year for Boohoo
Fashion retail group Boohoo, which has a major distribution operation in Burnley, has seen its first quarter revenues grow to more than £250m – up 39 per cent year on year.
The business saw strong growth across all geographies in the first three months to May 31 – with the UK up 27 per cent and international sales up 56 per cent.
The listed-company’s PrettyLittleThing brand saw a 42 per cent rise in sales to £112.1m with continued strong growth in all markets.
Its Nasty Gal operation saw its revenue rise to £18.2m, a 153 per cent increase and is “gathering momentum in all markets”, according to its parent group’s trading statement.
Boohoo chief executive John Lyttle said: “The group has made a strong start to the year as we continue to disrupt and capture market share in the UK and internationally across all our brands.
“We have ambitious plans for the group and continue to invest to ensure that our scalable multi-brand platform is well-positioned to disrupt, gain market share and capitalise on the global opportunity in front of us.”
Retail trade union Usdaw is campaigning for recognition at the online clothes retailer and earlier this month organised a ‘day of action’ in Burnley.