Sales leap 39% at listed eCommerce fashion group
Revenues at boohoo group leapt 39 per cent in the first quarter of 2019.
Turnover climbed to £254.3 million in the three months ended 31st May, up from 183.6m in the corresponding period a year earlier.
The listed online fashion group acquired MissPap in March and now has 13m active customer accounts across all its brands, which include boohoo.com, boohooMAN, PrettyLittleThing and Nasty Gal.
International sales were up 56 per cent while those generated in the UK grew 27 per cent.
Boohoo said in a statement to the London Stock Exchange that it has a “strong balance sheet” with net cash of £194m, compared with £151m in 2018.
"The group has made a strong start to the year as we continue to disrupt and capture market share in the UK and internationally across all our brands,” said CEO John Lyttle.
“I'm delighted that the group topped the UK Hitwise rankings in May for the first time, demonstrating how our multi-brand strategy is really capturing our customers' attention.
“We have ambitious plans for the group, and continue to invest to ensure that our scalable multi-brand platform is well-positioned to disrupt, gain market share and capitalise on the global opportunity in front of us."
Sales at boohoo were up 27 per cent to £123.5m; they grew 42 per cent at PrettyLittleThing to £112.1m; and were up 153 per cent at Nasty Gal to £18.2m.