Boohoo benefits from online shopping boom in lockdown

Online fashion giant Boohoo has reported a 41 per cent surge in revenues as it benefited from the online shopping boom during lockdown.


The retailer said revenues jumped to £1.74bn in the year to February 28 from £1.23bn in the previous year.

It told shareholders on Wednesday morning that pre-tax profits lifted by 35 per cent to £124.7m as it was boosted by the sales increase.

Sign up to our Business newsletter

John Lyttle, chief executive officer of Boohoo said: "Full-year 2021 has been a year of significant investment for the group as we build a platform for the future and I am very pleased to report a strong financial performance.

"We completed over £250m of acquisitions in the period, which included Oasis, Warehouse, Debenhams, Dorothy Perkins, Burton and Wallis, as well as the purchase of the remaining minority interest in PrettyLittleThing in a transaction that, to date, has resulted in substantial earnings enhancement for the group's shareholders.

"Our newly-acquired brands are being re-energised and made relevant for today's consumer across a broader market demographic.

"We are very excited about their potential and are already seeing the early rewards from their growth."


Support The Yorkshire Post and become a subscriber today.

Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you'll see fewer ads on site, get free access to our app and receive exclusive members-only offers.

So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust.

Thank you

James Mitchinson