Manchester-based online fashion retailer boohoo.com said sales rose 47% to £241.61 million in the 10 months to December 31, and soared 55% to £114.29 million in the four month period to December 31.
Consequently, the company now expects revenue growth in the year to February 28, 2017 — excluding recent acquisition PrettyLittleThing — to be above previous guidance.
The company’s share prise rose 1.3% to around 145p, giving boohoo.com a current stock market value of more than £1.5 billion, according to Bloomberg data.
This time last year, boohoo.com’s share price was around 36p.
In a joint statement, joint CEOs Mahmud Kamani and Carol Kane said sales momentum in the US had continued “robustly” and was helped by a strong performance throughout the Black Friday weekend.
“We are delighted to have completed the acquisition of a majority stake in PrettyLittleThing on 3 January 2017 and we welcome the team to the enlarged boohoo.com group,” said the CEOs.
“This is a fantastic brand to complement boohoo.com’s own brand, and we look forward to building on its success …
“As a result of the strong trading through Black Friday continuing into the Christmas season, we now expect revenue growth for boohoo.com (excluding PrettyLittleThing) to be between 43% and 45% in the year to 28 February 2017, above previous guidance of between 38% and 42%.
“As previously announced, PrettyLittleThing is expected to achieve revenue growth in excess of 150% for the year to 28 February 2017 (FY16 revenue: £17.0m), while being broadly breakeven at EBITDA level.
“Consequently, group revenue growth, including PrettyLittleThing, is expected to be between 46% and 48% and group EBITDA margin between 11% and 12%.”