January 14, 2020 / 7:13 AM / a month ago

Britain's Boohoo bucks weak festive market with 44% revenue rise

LONDON, Jan 14 (Reuters) - Britain’s Boohoo reported robust trading in its Christmas trading period and upgraded its full-year guidance, marking the online fashion retailer as a festive winner that bucked a weak overall market.

Boohoo, which sells own-brand clothing, shoes, accessories and beauty products, said on Tuesday total group revenue rose 44% to 473.7 million pounds ($615 million) in the four months to Dec. 31. That compares to first half growth of 43%.

The group is now forecasting full year 2019-20 revenue growth of 40-42%, up from previous guidance of 33-38%, and a core profit margin of 10.0-10.2%, versus previous guidance of “around 10%”. ($1 = 0.7702 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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