• Monday, August 15, 2022

Business

UK’s Fashion Retailer Boohoo Raises Its Sales Guidance Amid Robust Business

Founded just 12 years ago in Manchester, northern England, Boohoo has expanded quickly, listing its shares in 2014. (Photo: Taylor/Getty Images).

By: Radhakrishna N S

UK’s online fashion retailer Boohoo raised its sales guidance on Wednesday (26) as it beat forecasts with a 22 per cent first-half profit rise, underlining Britain’s rapid shift to online shopping. Founded just 12 years ago in Manchester, northern England, Boohoo has expanded quickly, listing its shares in 2014 and buying the PrettyLittleThing and Nasty Gal brands last year. British clothing retailers like Marks & Spencer and Debenhams have seen profits slump and are closing stores, but pure internet players like ASOS and Boohoo are tapping-in to a generation of consumers who shop on their mobile phones and share fashion tips via social…

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