Boohoo says it is confident that the Covid-19 “headwinds” are short-term as it reports a growth in sales.
The Manchester online clothing retailer, released a Trading Update this morning, showing that net sales were up 7% for the 4th Quarter, and 14% over the full year. That, it said, was in line with guidance.
It expected that its adjusted EBITDA for the Financial Year ended 28 February would be approximately £125m.
That comes after December’s announcement that the company was lowering its financial expectations.
“The Group has delivered strong growth over the last two years, which has translated into significant market share gains,” said John Lyttle, Group CEO.
“We are confident that pandemic-related headwinds are short-term in their nature, and our focus is to ensure the business is well positioned for growth as these headwinds ease.”
The update added that its performance internationally continued to be impacted by longer delivery times, due to supply chain pressures.
