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BREAKING NEWS

BREAKING NEWS

Britain's Boohoo bucks subdued retail market with stellar sales

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LONDON (Reuters) – British online fashion group Boohoo bucked a tough retail market with robust sales growth in its latest quarter as its offer of cheap clothing, delivered quickly, chimed with shoppers.

Boohoo, which sells own-brand clothing, shoes, accessories and beauty products, said on Wednesday group revenue rose 39% to 254.3 million pounds ($323.5 million) in the three months to May 31, its fiscal first quarter.

The group kept its guidance for the full 2019-20 year – revenue growth of 25% to 30% with a core profit margin of around 10%.

(Reporting by James Davey, Editing by Paul Sandle)

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