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Another revenue makeover for the fashion retailer.
Online fashion retailer Boohoo has upgraded its revenue forecasts – again.
In a trading update, the company said it now expects group revenues to grow around 50 per cent in the 12 months to the end of February, ahead of the previously guided range of 46-48 per cent.
The retailer, which uses Instagram and Snapchat to draw in younger shoppers, had already upgraded its revenue forecasts at the start of January for the fifth time in a year.
Boohoo, which brands itself “the voice and style of the social generation” and targets the 16-24 year old market, said that improved operating leverage would also help profitability, with an adjusted earnings before interest, tax, depreciation and amortisation (ebitda) at the top end of the previously guided range of 11-12 per cent.
Boohoo will announce preliminary results for the year to the end of February and give guidance for 2018 on 26th April.