Boohoo’s 27 per cent revenue jump is nothing to cry about
ONLINE fashion retailer Boohoo has reported a stylish 27 per cent surge in full-year revenue.
The group, which targets 18- to 24 year olds, accredited mobile phones with helping to boost sales.
Mobile traffic now represents almost half of all sessions and daily unique visitors to Boohoo.com. Mobile user conversions to sales improved by over 40 per cent in the quarter.
In January, the fashion retailer issued a profit warning following a challenging third quarter caused by heavy discounting and unseasonably warm weather, which delayed shoppers buying winter clothing.
The latest trading figures show revenue has risen 24 per cent on a constant currency basis to £21.9m in the two months to 28 February, pushing up full-year sales to £139.9m, a rise of 31 per cent.
Active customers were also up to three million, a 29 per cent increase compared with 2013.
“We continue to build our business for the long term, as we stated at our float last year, and our clear objective is to deliver sustainable growth,” said co-chief executives Mahmud Kamani and Carol Kane.
During the period the retailer also launched a sportswear line.