UK online fashion retailer Boohoo today raised its full-year revenue forecast as it reported robust Christmas sales, successfully navigating a tough trading environment.
Trading in the run-up to Christmas for British retailers was brutal.
Boohoo's closest rival ASOS warned on its profit in December, while industry data published last week showed British retailers suffered their worst Christmas since the depths of the financial crisis a decade ago.
But Boohoo, which sells own-brand clothing, shoes, accessories and beauty products mainly to 16- to 30-year-olds, said its revenue in the four months to December 31 rose 44% year-on-year to £328.2m.
The group said it saw revenue growth in all its regions, with Britain up 33%, the rest of Europe up 57%, the US up 78% and the rest of the world 35% higher.
Boohoo forecast revenue growth for its 2018-19 year, ending February 28, of 43-45%, up from its previous forecast of 38-43%.
It also forecast group adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) margins to be between 9.25-9.75%, narrowing from a previous forecast of 9-10%.
All other forecasts were unchanged.
Shares in Boohoo are up 20% so far this year.