Dorothy Perkins, Wallis and Burton purchases help Boohoo revenue grow by more than £ 100million
The acquisitions of Dorothy Perkins, Wallis and Burton helped fast fashion giant Boohoo’s revenue jump by over £ 100million in its most recent financial period.
The Manchester-based listed group reported revenue of £ 486.1million for the three months to May 31, 2021, up from £ 367.8million in the same period in 2020.
Boohoo’s UK revenue grew 50% from £ 183million to £ 274million, while it rose from £ 92million to £ 131.9million in the States -United.
However, the group’s revenue in the rest of Europe increased from £ 63.4million to £ 54.7million and in the rest of the world its revenue grew from £ 29.4million. to £ 24.9million.
The three-month deadline is the first of its new fiscal year.
In a separate announcement, Boohoo published a progress report from Sir Brian Leveson on the group’s Agenda for Change program.
Managing Director John Lyttle said: “I am delighted with our performance in the first quarter, especially since it was always going to be difficult to produce strong growth rates last year, when bottlenecks around the world generated such high traffic to online retailers.
“The two-year CAGR of 38% highlights the continued phenomenal growth of the group, with revenues growing 91% over the past two years, with particularly strong performance in key markets such as the UK and the United States, where sales more than doubled.
“This quarter, we integrated and relaunched our newly acquired brands, Dorothy Perkins, Wallis and Burton, and we also relaunched Debenhams for fashion, beauty and housewares, adding lines, with an exciting pipeline of brands for our large digital store.
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“We continue to make great strides in our Agenda for Change program, with the latest report this morning from Sir Brian Leveson outlining the seriousness with which the group is determined to develop and demonstrate a gold standard in our supply chain. .
“Our continued investment in infrastructure and our platform leaves us well positioned to maximize growth opportunities as we build the business for the future.”
Regarding the Agenda for Change program, Sir Brian said: “The Responsible Sourcing and Ethical Trade teams are now focused on the continuous assessment of its UK manufacturing base and are demonstrating due diligence. reasonable which may well go beyond that undertaken by other retailers. or in other sectors.
“In my many discussions with… the directors and managers of boohoo, I remain encouraged by everyone’s determination to address the issues that were exposed last year and to promote and integrate a new way of working according to the highest ethical standards. high.
“The group has demonstrated that it takes the recommendations of the review very seriously and has extended its determination to develop and demonstrate a ‘gold standard’ in the supply chain to all aspects of ethical, transparent business practices. and sustainable.
“Everyone I have spoken to has shown genuine enthusiasm for the Agenda for Change and pride in what it seeks to achieve.
“The progress and commitment is evident and has received positive feedback from a number of people interested and engaged in the issues Leicester has highlighted.”