Bohoo reported strong growth across all brands and regions in the four months through December, leading the British online fashion retailer to raise its full-year revenue guidance.
Revenues jumped by 44 percent from the year-ago period to £328.2 million (€370.7m-$421.3m). The gross margin improved by 1.7 percentage points to 54.2 percent.
Sales at the retailer's namesake brand were up by 15 percent to £163.5 million (€184.6m-$210.5m). At the Pretty Little Thing, a website that targets young women, revenues soared by 95 percent £144.2 million (€162.9m-$185.6m), and sales at Nasty Gal, the American online young fashion retailer bought by Boohoo two years ago, surged by 74 percent to £20.6 million (€23.8m-$26.5m).
The group's revenues for the financial year ending Feb. 28, 2019, are now expected to be up by 43 to 45 percent, ahead of the previously forecast growth of between 38 and 43 percent. Boohoo also expects the group's adjusted Ebitda margin to be between 9.25 percent and 9.75 percent, narrowing the previously projected range of 9 to 10 percent.
The performance of Bohoo contrasts with that of the leading British online retailer, Asos, which reported on Dec. 17 that it was lowering its expectations for its financial year after a significant deterioration in its sales during the important month of November. It added that conditions had remained challenging, against a backdrop of economic uncertainty and weakening consumer confidence.