Boohoo expected to unveil lockdown sales surge in market update

Retail group expected to report a 39% rise in sales to £1.7 billion for the full year to the end of February.

It’s expected to be confirmed that it’s ‘boom time’ for Boohoo this week, when the online fashion group updates the market on its soaring sales during the pandemic.

The group is expected to reported a 39% uplift in sales to £1.7 billion for the full year to the end of February when it updates shareholders on Wednesday 5 May.

The initial impact of the deals for Debenhams and three Arcadia brands – Dorothy Perkins, Wallis and Burton – is also expected to be discovered, while investors will also be looking to find out whether sales have been impacted by the re-opening of non essential retail on the high street from 12 April.

Analysts have predicted that the company will deliver an adjusted pre-tax profit of £147.3 million for the year.

“It’s been boom time for Boohoo through the pandemic, as shoppers switched from physical to virtual shopping baskets, lured by the e-retailer’s cheap prices,” commented Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown on The Industry.Fashion.

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