Boohoo, the United-Kingdom based online fashion retailer has recorded revenue of £209.0 mn during the six months till August 2018, up 15 per cent with market share gains in all its focus markets. In the reported period, the company’s gross margin escalated 53.4 per cent, up 110 bps with retail gross margin climbing by 56.0 per cent, up 160 bps.
During the six months, market share and brand awareness increased supported by proposition investments. At present, it has 6.7 mn active customers, up 15 per cent on prior year. “Our group results for the first half year show yet another strong performance, delivering record sales and profits. All of our brands performed extremely well across all territories as we continue to gain market share. We achieved market-leading growth in all markets, with Rest of Europe and the USA being particularly pleasing. Growth in the UK, our largest market, remains very strong,” Mahmud Kamani and Carol Kane, joint CEOs.
“We successfully executed a major relocation of the distribution centre for PrettyLittleThing, which represents a key milestone as we develop a distribution network capable of generating £3bn of net sales globally, in line with our vision to lead the fashion e-commerce market. This relocation was carried out with a low level of disruption to the operations of PrettyLittleThing and is a credit to the project team. Our extended distribution centre in Burnley, which will have a significant element of automation to drive efficiency savings, is scheduled for operational use in 2019,” concluded Kamani and Kane.