{"id":166166,"date":"2020-04-17T15:24:00","date_gmt":"2020-04-17T15:24:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/boohoo-to-post-soaring-annual-sales-as-investors-await-virus-impact\/"},"modified":"2021-08-06T12:05:28","modified_gmt":"2021-08-06T12:05:28","slug":"boohoo-to-post-soaring-annual-sales-as-investors-await-virus-impact","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/boohoo-to-post-soaring-annual-sales-as-investors-await-virus-impact\/","title":{"rendered":"Boohoo to post soaring annual sales as investors await virus impact"},"content":{"rendered":"<p>Boohoo is set to unveil soaring sales for the past year, as <strong>investors await news of how the business has been affected by the coronavirus<\/strong> pandemic.<\/p>\n<p><!--more--><\/p>\n<p>Analysts have <strong>backed the company to continue to outshine the wider market<\/strong> despite the outbreak, with its operations able to continue despite the Government-mandated lockdown, which has hammered high street rivals.<\/p>\n<p>In its full-year trading update on Wednesday 22 April, Boohoo is <strong>expected to post a sales jump of around 42% to \u00a31.22 billion<\/strong> for the year to February as shoppers continued to flock to its site.<\/p>\n<p>The Manchester-based group has announced <strong>a series of profit upgrades over the past year<\/strong> as online-only retailers have gone from strength to strength, despite challenges in the wider retail sector.<\/p>\n<p>Most recently, <a href=\"https:\/\/www.theindustry.fashion\/boohoo-defies-retail-gloom-as-sales-soar-higher\/\">in January it said<\/a> it expected to deliver revenue growth of between 40% and 42% for the year to February 2020, a significant increase on its previous range of between 33% and 38% growth.<\/p>\n<p>It is now <strong>expected to reach the higher echelons of this updated range,<\/strong> while analysts have also predicted it will deliver adjusted earnings before tax and interest of \u00a3123.6 million after boosting profit margins.<\/p>\n<p>But shareholders will <strong>now turn their focus to its performance for the current period<\/strong>, with analysts predicting that sales could dive temporarily.<\/p>\n<p>Experts at Peel Hunt said they have \u201c<strong>cut forecasts to factor in a 25% drop<\/strong> in sales this quarter\u201d, with growth expected to be flat in the following three-month period.<\/p>\n<p>Elsewhere, Bank of America analysts described Boohoo as the <strong>\u201cbest placed online retailer\u201d to deal with coronavirus headwinds<\/strong>, highlighting that it has \u201chigher margins\u201d than its peers and an \u201cagile supply chain\u201d.<\/p>\n<p>Boohoo said all of its warehouses are still operating after alterations to work within health and safety remits issued by the Government.<\/p>\n<p>Rival ASOS said its group sales have slipped by 20% to 25% in the past three weeks after demand weakened in most markets. However it said that after an initial shock after the coronavirus hit a market, demand began to stabilise.<\/p>\n<p>In its latest trading update in January, Boohoo <strong>reported a 44% jump in revenues to \u00a3473.7 million for the four months to 31 December<\/strong>\u00a0after a strong festive period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":68,"featured_media":134825,"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":[6],"tags":[3791,5202,5707,21,14127],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Boohoo to post soaring annual sales as investors await virus impact - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Boohoo is set to unveil soaring sales for the past year, as investors await news of how the business has been affected by the coronavirus pandemic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/boohoo-to-post-soaring-annual-sales-as-investors-await-virus-impact\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boohoo to post soaring annual sales as investors await virus impact - 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