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Boohoo Group PLC on Tuesday raised its guidance for fiscal 2020 and said that revenue for the four months ended Dec. 31, 2019 rose 44% thanks to the “excellent operational performance” of its warehouses.
The online fashion retailer BOO, +3.65% said that it expects the adjusted earnings before interest, taxes, depreciation and amortization margin–which strips out exceptional and other one-off items–for the year ending Feb. 29 to grow 10.0% to 10.2%.
Revenue for the year is expected to rise 40% to 42%, compared with the company’s prior guidance of 33% to 38%.
Boohoo said that it made revenue of 473.7 million pounds ($618.3 million) for the four months ended Dec. 31, compared with GBP328.2 million during the same period in fiscal 2019.
The company also said that it has appointed Brian Small as deputy chairman with immediate effect. Small steps up from his previous roles as nonexecutive director and chairman of the audit committee, and will retain the latter until a new chairman is appointed.
