Boohoo boasts strong financial year

Endaba Group

Boohoo have reported a very strong year; with a rise in its profits, alongside a decrease in its marketing expenditure. Revenue for the year to 29 February 2016 reached £195.4m, up 40% on the previous year. The company’s largest market is the UK, where it experienced 38% growth in revenue. Growth in the rest of the world stood at 56%, largely driven by their success in the Australian and American markets. Boohoo had over 4m customers shopping with them over the year, a like-for-like increase of 34%, alongside an increase in order frequency. The company has invested in their digital user experience, having now completed their efforts to have all of its websites fully device-responsive. Boohoo have claimed that mobile and tablet use now accounts for 66% of website sessions.