Boohoo expected to post 39% sales rise as investors focus on supply chain progress

Boohoo is expected to reveal a near 40 per cent boost in sales last year as it releases its first financial figures since acquiring Debenhams, Dorothy Perkins, Burton and Wallis next week.

The online fashion giant is due to release its figures for the 12 months to the end of February on Wednesday May 5 next week.

Analysts are expecting the retailer’s swathe of collapsed high-street brand acquisitions during the period to have helped drive sales up 39 per cent to £1.7 billion.

While analysts also expect Boohoo to post pre-tax profits of £147.3 million, they will be watching carefully to see how the reopening of physical fashion stores have impacted sales over the past few weeks.

READ MORE: Boohoo, Missguided and Asos could soon have to answer to a ‘clothing trade adjudicator’

All eyes will also be on the progress Boohoo has made in improving working conditions within its supply chain, following a year of controversy and numerous damning reports.

“Unsurprisingly, given events over the last year, we expect the main investor focus to be on the implementation of Boohoo’s Agenda for Change programme and the key milestones achieved,” Jefferies’ equity analyst Andrew Wade said.

“We continue to view the publication of Boohoo’s audited supplier list in March as a crucial step forward, and are keen to hear management detail and evidence its confidence that the UK supply chain is now in order.”

Click here to sign up to Charged’s free daily email newsletter



Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.