Boohoo Group sees more success as Black Friday hits record
today Dec 3, 2019
Boohoo Group’s trading updates are always interesting simply because of the fast pace of growth the company is seeing and its very active acquisitions strategy. But on Tuesday it issued an update that didn’t give us as much to talk about as usual as it was so brief.
Yet it did confirm that “since its half-year-end, trading has remained strong across its key brands with a record performance across the Black Friday weekend” and that “both warehouses have had a strong operational performance”.
That’s something industry watchers are keen to hear given that if companies as successful as Boohoo start to slow down, then it really is bad news for the fashion retail sector’s prospects as a whole.
And it’s also interesting to hear about the warehouses given how highly publicised logistics issues have undermined the business of rival Asos in recent periods.
The company also said that its new brands, Karen Millen, Coast, and MissPap, “have been successfully integrated onto our platform. Initial ranges have been very well received, and we continue to broaden our product ranges as we progress our multi-brand strategy”.
The group continues to trade “comfortably in line with market expectations” and will provide further information covering the four months to December 31 in January.
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