Boohu’s sales rose to £1.755 billion last year.
Online fashion brand Boohoo (Lon:Boo) confirmed its sales and profits surged last year after the company focused on its loungewear and activewear ranges while the coronavirus pandemic is ongoing I did.
The FTSE 250 company revealed on Wednesday morning that revenues rose 41% for the year ending February 28th, with sales rising above £5 billion to £1.755 billion .
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Pre-tax profits also skyrocketed, increasing 35% £124.7m over the same period.
Earnings per share increased 36% from 5.35p to 7.25p.
“Boohoo is igniting high street rivals that show fashion followers bang trends in terms of how they want to shop and how they want to buy,” says Susan Nastre, senior investment analyst Hargreaveslandsdown. Tar said. “Staying in a home style like sports or loungewear was easy to fit right, so we returned fewer items, which added comfort. Returns Bug Bear retreats And it helped boost gross profit to 54.2%.”
Superstar sales have led to Boohoo’s cash build-up, reaching more than £200 million in operating cash flow compared to £127 million in 2020.
Boohu’s deep pockets have already sent the company to cuddle their spending to grab a number of brands, including Dorothy Perkins, already through the bins of Arcadia bargains. He also got his online store at Debenhams with the aim of turning the company, which began as a market stall into an international apparel market. “The plan is now making up a larger slice of the overall sales pie, with International’s revenue growth rate increasing by 44% per year,” Streeter said.
“Boohoo is currently a fashion powerhouse and investment in platform scaling is expected to see even higher margins later this year. However, the catwalk is not entirely clear and uncertainty The hurdles are moving ahead.”
