Online clothing retailer boohoo.com reports record revenues for all brands in a highly successful four-month trading period including Christmas.
In its latest trading statement the group revealed revenue growth of 100% (93% CER(1)) spread across all geographic regions. Gross margin was 52.5% (2017: 53.1%) while retail gross margin was 54.2% (2017: 54.4%
The company pointed to a strong balance sheet with net cash of £127m (2017: £69m).
Group revenue growth for this financial year is now expected to be around 90%, ahead of previous guidance of around 80%, which was raised from 60% at the time of the interims in late September.
Boohoo.com now expects group adjusted EBITDA margins to be between 9.25% and 9.75%, narrowing the range from the 9% to 10% as guided at the interim results.
Commenting on the latest trading numbers Mahmud Kamani and Carol Kane, joint CEOs, said:" The Black Friday period was our most successful ever and we traded well throughout the period under review. boohoo has continued to perform well, delivering strong revenue growth on increasingly challenging comparatives last year.
“PrettyLittleThing has continued to deliver exceptional results and Nasty Gal is making excellent progress in its first year. Our focus remains on the customer proposition: offering the best range of the latest fashion at affordable prices, coupled with great customer service."