Boohoo expected to report 95% sales increase

Boohoo is expected to report a 95% increase in sales when it publishes its full year results on Wednesday (25 April), the City has predicted.

According to City AM, this will mean an increase of £574.6m with pre-tax profits at around £47m.

Boohoo has heavily invested in its infrastructure with indications that £62m would be invested this year, and another £40m set aside for further expansion.

The online fashion retailer’s sister company, PrettyLittleThing, is also expected to be a significant source of growth as Boohoo has a 66% stake in the newer brand, which is said to have more opportunity for growth.