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Retail & Consumer

Dorothy Perkins, Wallis and Burton buys help Boohoo's revenue jump by more than £100m

Boohoo has also published a progress report on its Agenda for Change programme

Boohoo is headquartered in Manchester(Image: MDM)

The acquisitions of Dorothy Perkins, Wallis and Burton helped fast fashion giant Boohoo's revenue jump by more than £100m during its latest financial period.

The Manchester-headquartered listed group has reported a revenue of £486.1m for the three months to May 31, 2021, up from the £367.8m it achieved during the same period in 2020.

Boohoo's º£½ÇÊÓÆµ revenue increased by 50% from £183m to £274m while there was a rise from £92m to £131.9m in the USA.

However, the group's revenue in the rest of Europe fell from £63.4m to £54.7m and in the rest of the world its revenue dipped from £29.4m to £24.9m.

The three-month period is the first of its new financial year.

In a separate announcement, Boohoo has published a progress report from Sir Brian Leveson on the group's Agenda for Change programme.

Chief executive John Lyttle said: "I am delighted with our performance in the first quarter, particularly as it was always going to be challenging to produce strong growth rates on last year, when lockdowns around the globe drove such high traffic to online retailers.

"The two year CAGR of 38% highlights the group's continued phenomenal growth, with revenues having increased 91% over the last two years, with particularly strong performance in key markets such as the º£½ÇÊÓÆµ and US, where sales have more than doubled.