for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

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)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up