Share Prices & Company Research

News

14 January 2020

Boohoo Group Plc Releases a Positive Trading Update

Saul Fulda, Investment Analyst, Redmayne Bentley
 
Boohoo Group Plc delivered a positive fourth-quarter trading update this morning, posting total sales growth of 44%, spearheaded by Europe and the US, with 57% revenue growth apiece. All of the group’s brands showed strong performance, with Nasty Gal leading the way, witnessing revenues jumping by 102%.
 
However, the group’s high-discounting strategy hit gross margins, which slipped 70bps to 53.5%. Nevertheless, the group has upgraded its revenue guidance for the 2020 full year to between 40-42%, ahead of previous guidance of 33-38%.
 
Boohoo has once again blown analysts away with its impressive trading update, which is even more remarkable given the demise of the wider retail sector. The group’s incredible performance highlights the growing digitisation of the high street and the globalisation of the demand for inexpensive fashion.
 
Boohoo Group Plc Releases a Positive Trading Update
Newsletter sign up
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.