Boohoo climbs as sales soar

AIM-listed online clothing retailer Boohoo (LON:BOO) saw its share price increase by 3.81% to 331.30p (as of 13:00 GMT) as revenues for the 10 months ended 31st December improved by 44%. The increase in sales was driven by the US and European markets.

CEO John Lyttle commented: “I am delighted to report the group has enjoyed record trading in the last four months of 2019. All of our brands have performed exceptionally well and delivered strong market share gains. We have continued to see operating leverage in our more established brands, and will continue to invest into them and our newly-acquired brands. The newly-acquired brands, MissPap, Karen Millen and Coast, are showing great promise and open different target markets for the group, in line with our strategy to build our multi-brand platform“.