Boohoo.com revenues soar 63 percent in 2013

REPORT_ Bohoo.com reported that its revenues went up 63 percent with international revenues rising 35 percent for the year ended February 28, 2014. Gross margin increased 63 percent for the year with pro forma EBITDA of 16 million pounds (26.8 million dollars). Company also reported a rise

of 54 percent in active customers that reached a figure of 2.3 million.

Along with significant infrastructure investment in the warehouse and IT, Bohoo continues its international expansion with its first foreign language website launched in France. It witnessed 47 percent of traffic from mobile devices, compared to 29 percent in the prior year. Platform also extended its range with the launch of BoohooMan.

For the three months to May 31, 2014, company’s revenues were 30.7 million pounds (51.5 million dollars) up 24 percent on top of 128 percent for the first quarter of FY 2014. UK revenues were up 44 percent, rest of Europe 36 percent (41 percent CER) and rest of the World was down 20 percent. Gross margins were maintained at 63 percent. Company launched a second foreign language website in Spanish during the period under review.

Commenting on the financial update, Mahmud Kamani and Carol Kane, joint CEOs, said, “The past year has been an exciting one, and we are very proud of the growth we have seen in both our UK and International markets. The launch of new product categories, investment in our warehouse and IT infrastructure, and of course the investment and development of our teams all support our future growth. The company is well positioned to benefit from its transformation to becoming a PLC after its successful IPO.”

Boohoo.com is UK's online, own brand fashion retailer. The company designs, sources, markets and sells own brand clothing, shoes and accessories through the website in the UK and globally.