Analysts anticipate doubling of sales at boohoo

boohoo

Analysts are anticipating a doubling in sales at fast-fashion etailer boohoo, which will be posting its full year results on Wednesday 25 April.

Sales at the Manchester-based business, which also owns the PrettyLittleThing and Nasty Gal brands, are expected to hit £574.6m with profits of around £47m, according to City AM.

The business is also expected to announced further investment in infrastructure, with estimates placing this figure at around £106m, to support its future growth.

PrettyLittleThing, the brand which was founded by boohoo joint CEO Mahmud Kamani’s son Umar Kamani, has been tipped for high growth moving forward. The business was founded in 2012 as an accessories brand and added clothing in 2013; in 2016, boohoo acquired a 66% stake in it in 2016 for a cash consideration of £3.3m.

Boohoo went on to acquire the IP and certain assets of LA-based fast fashion brand Nasty Gal in early 2017. The business had been placed into Chapter 11 the previous autumn. The deal was part of a strategy to give boohoo a stronger international foothold, especially in the US.