Boohoo sales to continue rapid surge

The Love is Love collection from Boohoo.com. All eyes will be on the online retailer on Wednesday as it unveils its results for the first half of the financial year. Picture: Boohoo.com
The Love is Love collection from Boohoo.com. All eyes will be on the online retailer on Wednesday as it unveils its results for the first half of the financial year. Picture: Boohoo.com
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Boohoo investors are expected to cheer rapid sales and higher earnings as the online fashion retailer continues to rapidly stride past its high street rivals.

All eyes will be on the retailer on Wednesday as it unveils its results for the first half of the financial year.

Expectations are already buoyant for the fast-fashion business, after it told the market earlier this month that sales growth was outstripping its own forecasts.

But questions remain over how it can keep up the blistering pace of its sales growth and what its plans are for the Karen Millen and Coast brands it snapped up in August.

Earlier this month, Boohoo told investors that it expects group sales growth to be between 33 per cent and 38 per cent in 2019, higher than previous guidance.

Shares jumped as it said it would invest extra funds into the fashion brands it acquired - Karen Millen, Coast and the MissPap brand it bought in March.

It was predicted that Boohoo would announce a raft of Karen Millen store closures to focus on its key online audience, but investors will be demanding further details.

Peel Hunt analysts said: “Interestingly all brands are delivering strong momentum, with the UK in particular generating that out-performance against the backdrop of a weak high street.”