{"id":158972,"date":"2017-04-23T13:02:17","date_gmt":"2017-04-23T13:02:17","guid":{"rendered":"https:\/\/www.theindustry.fashion\/boohoo-forecast-to-double-profits\/"},"modified":"2021-08-12T13:45:17","modified_gmt":"2021-08-12T13:45:17","slug":"boohoo-forecast-to-double-profits","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/boohoo-forecast-to-double-profits\/","title":{"rendered":"Boohoo forecast to double profits"},"content":{"rendered":"
Fashion fashion etailer boohoo is forecast to double its profits<\/strong> when it posts is year-end figures this week.<\/p>\n <\/p>\n The Manchester-based business, which recently acquired the IP and certain assets to US business Nasty Gal, is predicted to post annual pre-tax profits of \u00a329.6m<\/strong> up from \u00a315.6m in the previous financial year, according to The Sunday Telegraph<\/em><\/a>.<\/p>\n Sales are expected to have increased by \u00a3100m to\u00a0\u00a3290.4m<\/strong> driven by its push into international markets and initiatives such as it move into the fast-growing affordable bridal market.<\/p>\n As well as Nasty Gal, which it bought from bankruptcy for $20m in Febuary and gives it a strong foothold in the US market, boohoo also\u00a0acquired a 66% stake in young fashion brand Pretty Little Thing<\/a> in December 2016 for \u00a33.3m.<\/p>\n When it last updated the market in January it beat analysts' expectations with a\u00a055% rise in sales in the four months to 31 December 2016<\/strong>. Sales for the four-month period hit\u00a0\u00a3114.3m<\/strong>, while financial year to date sales (10 months to 31 December) were up 47% at \u00a3241.6m.\u00a0Active customers were up 31% at 5.1m<\/strong>.<\/p>\n Boohoo was founded in 2006 and admitted to AIM in 2014. Rival fast fashion etailer Missguided recently appointed advisers to investigate a potential float or sale <\/a>of the business, while Scottish fast fashion retailer Quiz is tipped for a float<\/a> this summer.<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":11,"featured_media":129783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[3791,9816,20,10093,11812],"acf":[],"yoast_head":"\n