Boohoo lifts forecasts again as its revenues double up

Millennial fast-fashion e-tailer Boohoo was looking smart on Thursday as it lifted its sales forecast for the year for the third time.

Thanks to a series of acquisitions, including PrettyLittleThing and NastyGal, its revenues doubled to £228.2 million for the four months to December 31. Stellar sales during the Black Friday bonanza also helped. The online player said revenues should grow 90% for the year to February, ahead of its previous forecasts revised in September and June.

The firm is part of a clutch of upstarts, including rivals Missguided and Quiz, cashing in on the fast-changing demands of younger consumers. It has seen its share price jump more than 170% since it floated on the London Stock Exchange in 2014.

Online electrical retailer AO World today also emerged as a Christmas winner, posting an 11.4% increase in UK sales for the three months to December 31.

Chief executive Steve Caunce warned over the “uncertain economic outlook” but is confident that he will win more customers. Its European business is going from strength to strength, he said, with revenues up 58.4% year on year. Overall revenue, including Europe, was up by 16.6%. The shares rose 3.4p to 134.4p.