Stellar start to year continues for boohoo

ONLINE fast fashion retailer boohoo.com says its stellar first-quarter sales momentum has continued.

Selling through the spring and summer season has been strong for the Manchester company, it said in its trading update ahead for the six months to May 31.

“Consequently, the board now anticipates that the results for the current year will be above expectations with increased sales growth of between 28% and 33% (against previous guidance of 25% to 30%),” a statement said.

“As a result of operating leverage in the business, the board currently anticipates improved EBITDA margins for the financial year and further guidance will be given at the interim results in September.

“The board continues to be positive about the trading environment for boohoo.com.”