Surging demand for floral prints and mushy tailor-made clothes have helped Boohoo publish an enormous leap in income for 3 months to the top of Might.
The quick trend retailer, which additionally owns PrettyLittleThing and Nasty Gal, stated robust block colors and ankle boots had additionally offered properly.
Group gross sales jumped 39% to £254.3m, though Boohoo’s lofty revenue margins dipped.
It got here as Zara-owner Inditex posted file gross sales of €5.9bn for the quarter.
The expansion contrasts with powerful instances seen at many different retailers – notably these centered on the UK Excessive Road.
Simply this week shares in Ted Baker dived 24% after it posted a revenue warning.
In the meantime, the way forward for Philip Inexperienced’s Arcadia, which owns Topshop and Dorothy Perkins, is hanging within the steadiness because it tries to safe a rescue deal to keep away from going into administration.
“Boohoo continues to defy the broader gloom on the Excessive Road because of its enchantment amongst youthful customers with the tight advertising and marketing focus round celebs and social media paying off.
“There are doubts although about whether or not it may possibly preserve margins in addition to this speedy gross sales development, however for now it is the one of many brightest stars in an in any other case fairly darkish sky,” stated analyst Neil Wilson from Markets.com.
Based in Manchester in 2006, Boohoo has turn out to be a success with millennial customers by promoting bargain, own-brand clothes that mirrors the newest celeb tendencies.
It does all its commerce on-line, avoiding the challenges confronted by bricks-and-mortar retailers equivalent to excessive store rents and enterprise charges.
Nevertheless, it has confronted questions on its manufacturing processes and its method to staff’ rights.
On Wednesday shares within the agency opened decrease amid issues about its revenue margins, however later rebounded. The corporate’s shares are up greater than 40% this 12 months.
It additionally stated it was heading in the right direction to publish income development of 25-30% for the complete 12 months.
It got here as Spain’s Inditex, which in addition to Zara additionally owns such manufacturers as Bershka and Pull & Bear, reported a 10% leap in earnings for the primary quarter as on-line gross sales surged.
The agency, which operates in 90 international locations, stated gross sales within the first six weeks of the second quarter had been additionally up, as customers snapped up gadgets like jewel-toned blazers and long-printed clothes from Zara’s spring collections.