Boohoo confirms record Black Friday sales

Online fashion company Boohoo Group Plc has confirmed that since its half year end, trading has remained strong across its key brands with a record performance across the Black Friday weekend.

The company said in a statement: “Our new brands, Karen Millen, Coast, and MissPap, have been successfully integrated onto our platform. Initial ranges have been very well received, and we continue to broaden our product ranges as we progress our multi‐brand strategy. The group continues to trade comfortably in line with market expectations.”

For the half year, Boohoo had announced sales increase of 43 percent on both constant and current exchange basis to 564.9 million pounds. The company’s adjusted EBITDA was 60.7 million pounds, an increase of 53 percent on the first half of the previous year, while adjusted EBITDA margin reached 10.8 percent compared to 10 percent in the previous year. The company had said, profit before tax was 45.2 million pounds, an increase of 83 percent and adjusted diluted earnings per share were 2.91p, up 46 percent on the prior half year, while basic earnings per share rose to 2.55p, an increase of 80 percent.

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