{"id":163888,"date":"2021-01-14T09:12:13","date_gmt":"2021-01-14T09:12:13","guid":{"rendered":"https:\/\/www.theindustry.fashion\/boohoo-sales-up-40-as-it-updates-on-agenda-for-change\/"},"modified":"2021-08-06T12:09:51","modified_gmt":"2021-08-06T12:09:51","slug":"boohoo-sales-up-40-as-it-updates-on-agenda-for-change","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/boohoo-sales-up-40-as-it-updates-on-agenda-for-change\/","title":{"rendered":"Boohoo sales up 40% as it updates on \"Agenda for Change\""},"content":{"rendered":"
Online fast fashion giant Boohoo achieved a 40% uplift to \u00a3660.8m in the four months to 31 December<\/strong> as it saw growth\u00a0across all brands and geographies.<\/p>\n <\/p>\n The Manchester-based group, which successfully pivoted its product mix away from party wear towards loungewear and athleisure during the pandemic, said it now expected group revenue growth for the financial year to 28 February 2021 to be 36% to 38%<\/strong>, ahead of its previous guidance of 28% to 32%.<\/p>\n UK revenue was up 40% to \u00a3357.2m<\/strong> with the rest of Europe up 32% to \u00a390.4m, the US up 51% to \u00a3167.7m and the rest of world up 24% to \u00a345.5m.<\/p>\n The group said it had successfully integrated the Oasis and Warehouse brands,<\/strong> acquired at the start of the pandemic, onto its platform and was on course for\u00a0finalising an extension of its UK warehousing capacity, with a new site to open in April 2021, creating up to 1,000 jobs.<\/p>\n Boohoo said it had put plans in place to ensure the impact of Brexit would be minimal<\/strong> to its business but said it did expect a \"small cost headwind\", which it would do its best to mitigate.<\/p>\n The group's strong performance came in spite of accusations of under-payment of staff within factories that supplied it in Leicester last year. As a result it launched its Agenda for Change initiative and hired retired judge Lord Leveson<\/strong> to to provide independent oversight of the programme.<\/p>\n