- Don-Alvin Adegeest |
If there is any rejoicing to be had in the world of retail, Boohoo’s stellar performance would be it.
The online retailer has reported a surge in sales and impressive revenue growth across geographic regions and across all brands.
Nigel Frith, a senior market analyst at www.asktraders.com said: “Boohoo’s outstanding performance comes at a time when consumer confidence is historically low and retail sales are weak. Whilst the UK High Street is experiencing harsh conditions, this purely online retailer has excelled.
Shares have rallied over 5 percent following the record quarter, hitting an all-time high.
The firm has upped its full year revenue guidance to 40 – 42 percent, up from 33 -38 percent. Profit margins will also be slightly higher than previously indicated.”
Image courtesy Boohoo