×
89 134
Fashion Jobs
COLUMBIA SPORTSWEAR COMPANY
Principal Business Process Analyst - Finance
Permanent · PORTLAND
COLUMBIA SPORTSWEAR COMPANY
Product Manager
Permanent · PORTLAND
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, Starting Pay $15.25 Per Hour
Permanent · SACRAMENTO
UNDER ARMOUR
Account Manager, Wholesale Sales
Permanent · BALTIMORE
UNDER ARMOUR
Lead, CRM Analyst (Remote)
Permanent · REMOTE
URBN
Urbn IT Business Systems Analyst, Merchandising Systems
Permanent · PHILADELPHIA
URBN
Free People: Senior Buyer, Denim/Bottoms
Permanent · PHILADELPHIA
UNDER ARMOUR
Stock Teammate, Part-Time, Starting Pay $15 Per Hour
Permanent · TULALIP BAY
COLUMBIA SPORTSWEAR COMPANY
Operations Manager - Swing Shift
Permanent · PORTLAND
BLOOMINGDALE'S
Asset Protection Detective, Full Time, Roosevelt Field
Permanent · GARDEN CITY
BLOOMINGDALE'S
Manager, Sales - Fine Jewelry
Permanent · ORLANDO
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time, Bloomie's
Permanent · FAIRFAX
ADIDAS
Retail General Manager Adidas - Sawgrass Mills 6156, Sunrise, fl
Permanent · SUNRISE
URBN
Urban Outfitters Visual Merchandising Manager
Permanent · PALO ALTO
URBN
Urban Outfitters Visual Merchandising Manager
Permanent · TUCSON
URBN
Anthropologie Design Director - Furniture
Permanent · PHILADELPHIA
URBN
Anthropologie Design Director - Fabric & Textile Concept
Permanent · PHILADELPHIA
URBN
Free People Associate Merchandise Planner
Permanent · PHILADELPHIA
BATH & BODY WORKS
Manager, Public Relations & Influencer
Permanent · REYNOLDSBURG
COLUMBIA
International Marketing Manager
Permanent · PORTLAND
URBN
Urbn Financial Analyst
Permanent · PHILADELPHIA
URBN
Free People CRM Analyst
Permanent · PHILADELPHIA
Published
Mar 10, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Boohoo delivers good news on trading, hails strong performance

Published
Mar 10, 2022

Boohoo Group issued a trading update on Thursday and said that sales grew 7% in Q4 compared to a year ago but were up a giant 48% on a two-year, pre-pandemic, basis.


Boohoo


It came as a welcome relief to the company's under-pressure share price as the shares rose in double-digits in early trading after having fallen sharply in recent months.

The three months to the end of February were pitched against tough comparisons given that the UK was in lockdown a year ago and online specialists such as Boohoo benefited hugely from this.

The company also said that for the full year, it saw revenue growth of 14% on a one-year basis and 61% against the 12 months before the pandemic started. Its figures were in line with its guidance.

It said that gross sales growth was strong in the fourth quarter, rising 26% compared to the previous year and 57% on a two-year basis. But as expected, net sales growth in the quarter was impacted by higher returns rates due to the changing product mix. This issue is expected to continue in the first half of the current financial year.

In its domestic UK market, the owner of brands including Boohoo, PrettyLittleThing, Nasty Gal, Debenhams and Karen Millen, said it continued to deliver a strong trading performance. 

However, its international performance continued to be hurt by longer customer delivery times due to pandemic-related supply chain pressures. That's a major problem for the business as, by definition, fast fashion has to be delivered to consumers quickly and if they face long delivery times from international sellers, they're more likely to go to domestic retailers offering similar products. 

That said, the company added that Q4 saw it returning to growth in the rest-of-the-world region due to the positive contribution from wholesale.

Boohoo will report its adjusted EBITDA for the financial year in early May and expects a figure of around £125 million, which would meet the guidance issued in December.

CEO John Lyttle said: “The group has delivered strong growth over the last two years, which has translated into significant market share gains. We are confident that pandemic-related headwinds are short-term in their nature, and our focus is to ensure the business is well positioned for growth as these headwinds ease.”

Copyright © 2022 FashionNetwork.com All rights reserved.