Online fast fashion retailer Boohoo has moved to reassure stakeholders that its trading performance remains on track in the wake of a profit warning from competitor Asos.
The retailer is not due to provide an update until next month on the four-month period to 31 December, but issued a statement yesterday (17 December) to say its trading performance remains “strong.”
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It also highlighted “record” Black Friday sales across the group and said it continues to trade comfortably in line with market expectations.
In September, Boohoo – which owns the PrettyLittleThing and Nasty Gal brands – upped its full-year revenue guidance on the back of growth in all regions in the first half of the year.
Its latest statement follows a warning by Asos that a slowdown in November sales means it will no longer meet its FY2018/19 revenue growth target of 20%-25%. Shares in Asos were down by more than 38% yesterday afternoon.
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By GlobalData
