Shares in Boohoo rise as it reports ‘record’ Black Friday trading
Shares in Boohoo rose as much as three per cent this morning after the online retailer reported a record performance over the Black Friday weekend.
The British fashion firm said trading had remained strong across its key brands since its half-year end, with a further boost from last week’s sales bonanza.
Read more: International growth boosts Boohoo profit
In an unscheduled trading update, Boohoo said it was trading “comfortably in line with market expectations”.
It comes a day after the Manchester-based company suffered a five per cent fall in shares.
However, Boohoo successfully allayed fears of a disappointing Black Friday weekend, saying its two warehouses in Burnley and Sheffield had a strong operational performance.
It added that its newly-acquired brands of Karen Miller, Coast and Miss Pap had all been successfully integrated into its platform.
“Initial ranges have been very well received, and we continue to broaden our product ranges as we progress our multi-brand strategy,” the firm said.
In addition to expanding its product range, the company has looked to build up its overseas presence.
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International sales now account for 44 per cent of the retailer’s total revenue after growing 55 per cent in the first half of the year.
Boohoo said it will issue a trading update for the four months to the end of December on 14 January.