UK online fashion retailer Boohoo’s sales rise, but profits fall

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UK-based online fashion retailer Boohoo Group reported 20% revenue growth to £ 975.9million in the first half of fiscal year 22 which ended on August 31, 2021, compared to revenue of £ 816.5 million in the same period a year earlier. tax. However, profit for the six-month period plunged to £ 98.4million (S1 FY21: £ 344.9million).

UK-based online fashion retailer Boohoo Group reported 20% revenue growth to £ 975.9million in the first half of fiscal year 22 which ended on August 31, 2021, compared to revenue of £ 816.5 million in the same period a year earlier. tax. However, profit for the six-month period plunged to £ 98.4million (S1 FY21: £ 344.9million).

“Looking back over the past 18 months, the group has delivered excellent solid operational and financial performance, and it is a testament to everyone who has helped make it happen. We are delighted to have doubled our market share in key markets such as the UK and US, to have significantly expanded our target market through selective acquisitions and are excited about the global potential of all of our brands “, John Lyttle, CEO of Boohoo, said in a press release.

UK-based online fashion retailer Boohoo Group reported 20% revenue growth to £ 975.9million in the first half of fiscal year 22 which ended on August 31, 2021, compared to revenue of £ 816.5 million in the same period a year earlier. tax. However, profit for the six-month period plunged to £ 98.4million (S1 FY21: £ 344.9million).

“During the first half of this fiscal year, our teams once again delivered results: integrate four new brands, launch two new warehouses and strengthen our infrastructure in a way that will allow our multi-brand platform to evolve as planned. Lyttle added.

UK-based online fashion retailer Boohoo Group reported 20% revenue growth to £ 975.9million in the first half of fiscal year 22 which ended on August 31, 2021, compared to revenue of £ 816.5 million in the same period a year earlier. tax. However, profit for the six-month period plunged to £ 98.4million (S1 FY21: £ 344.9million).

First half gross profit was £ 533.3million (£ 449.2million), while Adjusted EBITDA was £ 85.1million (£ 89.8million). ).

UK-based online fashion retailer Boohoo Group reported 20% revenue growth to £ 975.9million in the first half of fiscal year 22 which ended on August 31, 2021, compared to revenue of £ 816.5 million in the same period a year earlier. tax. However, profit for the six-month period plunged to £ 98.4million (S1 FY21: £ 344.9million).

The UK fashion company‘s second quarter performance was affected by the return of UK return rates to pre-pandemic levels, the reopening of physical stores, consumer uncertainty in the markets in which we operating, resulting in the loss of key events and vacations, as well as continued COVID-19 related disruptions in key international markets, impacting international delivery times.

UK-based online fashion retailer Boohoo Group reported 20% revenue growth to £ 975.9million in the first half of fiscal year 22 which ended on August 31, 2021, compared to revenue of £ 816.5 million in the same period a year earlier. tax. However, profit for the six-month period plunged to £ 98.4million (S1 FY21: £ 344.9million).

“As we enter the second half of the year, the group is well positioned to accelerate its growth and our confidence in the group’s medium-term objectives remains unchanged. We will continue to invest in our platform, people and technology as we seek to further consolidate our position as a leader in global fashion e-commerce, ”concluded Lyttle.

UK-based online fashion retailer Boohoo Group reported 20% revenue growth to £ 975.9million in the first half of fiscal year 22 which ended on August 31, 2021, compared to revenue of £ 816.5 million in the same period a year earlier. tax. However, profit for the six-month period plunged to £ 98.4million (S1 FY21: £ 344.9million).

In its outlook for fiscal 2022, the group said it expects sales growth of 20-25%, implying sales growth of 20-30% in the second half of the year.

Fibre2Fashion Information Office (JL)


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