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Boohoo reassures that it remains on target

Boohoo has issued a trading statement to reassure stakeholders that its performance remains on target, following this morning’s profit warning from Asos.

Boohoo cited record Black Friday sales, and said it continues to trade “comfortably in line with market expectations”.

It comes after its key competitor, Asos, this morning lowered its full-year growth forecast, blaming weak trading in November because of economic uncertainty. 

Asos now predicts a sales growth of 15%, compared with the previously predicted rise of 20%-25%.

Boohoo will release its trading update for the four months to 31 December on 15 January 2019.

In its last trading update for the six months to 31 August, Boohoo posted revenue growth of 50% to £395.3m. Its profit before tax increased 22% to £24.7m.

 

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