Boohoo posts profit rise as it wins market share

Boohoo, which owns Nasty Gal and PrettyLittleThing as well as its eponymous brand, said it had performed “extremely well across all territories” and gained market share.

The Boohoo division generated sales up 15% to £209m Active customer numbers rose 15% year on year to 6.7 million.

At PrettyLittleThing revenues soared 132% to £168.6m and active customer numbers were ahead 99% to four million.

Nasty Gal’s sales rose 111% to £17.7m and active customer numbers were 313% higher at 0.6 million.

Group revenue growth for the full year is expected to be ahead by between 38% and 43%, up from previous guidance of 35% to 40%.

Boohoo joint chief executives Mahmud Kamani and Carol Kane said: “Our group results for the first half year show yet another strong performance, delivering record sales and profits.

“All of our brands performed extremely well across all territories as we continue to gain market share. We achieved market-leading growth in all markets. Growth in the UK, our largest market, remains very strong.

“We successfully executed a major relocation of the distribution centre for PrettyLittleThing, which represents a key milestone as we develop a distribution network capable of generating £3bn of net sales globally, in line with our vision to lead the fashion ecommerce market.

“Our extended distribution centre in Burnley, which will have a significant element of automation to drive efficiency savings, is scheduled for operational use in 2019.”