Fashion retailer says revenues grew 32% in the three months to May as Covid crisis fuels online spending.
Boohoo’s UK revenues were up 50% in the three months to May.
Boohoo has reported further strong sales growth on the back of the online shopping boom seen during the pandemic, as it launched a new Debenhams “digital department store”.
The online fashion retailer said its profits grew 32% in the three last months compared with the same period in 2020, even as Covid lockdowns eased and other retailers reopened their shops.
UK revenues were strongest, up 50%, followed by the US with a 43% increase while sales in the rest of Europe and the rest of the world fell by 14% and 15% respectively. Global revenues are up 91% over the past two years, with sales in the UK and US multiplying. Boohoo relaunched the Debenhams website in April, selling fashion, beauty, and homeware, with new ranges added. It bought the Debenhams brand and website out of administration for £55m in January, after the 243-year-old department store chain dissolved last year. The Debenhams name has vanished from the high street, with all retailers around the country closed, leading to the loss of about 12,000 jobs.
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