Boohoo, a beacon of light in dark retail times

Boohoo appears to be unbeatable. The online fast fashion retailer not only posted impressive final results to year end February 29th, but more importantly, the group has said that sales in April are ahead of last years, commented Nigel Frith, senior market analyst at asktraders.com.

A beacon of light in otherwise dark times

Whilst Boohoo haven’t provided any financial details on how they are coping with the crisis, investors haven’t deemed it necessary, says Frith. Advising that they are operating with tightened safety measures at its warehouse and that it has set up an emergency fund to help suppliers. The stock price jumped over 4 percent.

Boohoo’s reign looks set to continue even after lock down eases. Without a vaccine social distancing measures are likely to remain in place for some time to come, meaning reduced numbers in bricks and mortar shops. This can only be beneficial for Boohoo which continues to grab market share, Frith stated.

Photo via Boohoo media gallery