Boohoo ups its sales forecast for 2020 fiscal year after fourth quarter results
The British ecommerce company plans to end the year with a sales growth between 40% and 42%, compared to the anticipated increase of 33% to 38%.
Boohoo swells its sales. The British ecommerce company has revised its forecasts for the fiscal year after announcing its results of its fourth quarter of the year, which was more positive than what was expected.
The group plans to end 2019 with a sales growth between 40% and 42%, compared to the expected increase between 33% and 38%. The company’s ebit margin will be between 10% and 10.2%, compared to the initial 10%.
“All of our brands have performed exceptionally well and delivered strong market share gains,” said John Lyttle, chief executive of the company. Additionally, the CEO does not rule out the acquisition of new brands “in line with our strategy of creating a conglomerate", after having recently purchased Misspap, Karen Millen and Coast.
Boohoo ended its fourth quarter with a 44% growth, up to 473.7 million pounds (616 million dollars). The Boohoo brand has increased its sales by 42%, while Pretty Little Thing has grown by 32% and Nasty Gal has doubled its revenue.
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