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UK fast fashion giant Boohoo is becoming a transatlantic force: Total sales topped $1 billion in the first half of 2020, and US sales doubled

UK fast fashion giant Boohoo is becoming a transatlantic force: Total sales topped $1 billion in the first half of 2020, and US sales doubled


Boohoo




British fast fashion retailer Boohoo earned £816.5 million ($1.05 billion) in sales in the six months to August 31, it reported on Wednesday.




Boohoo’s international popularity is growing rapidly: Sales in the US nearly doubled compared to the same time last year.




Nearly half of the group’s sales are now made outside of the UK.




Recent allegations of "lockdown breaches, exploitation, and modern slavery” among its suppliers don’t seem to have dented sales. Boohoo said it has a “highly positive outlook” for the future.




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British fast fashion giant Boohoo's latest results show it's becoming a force in the US too.Its total revenues soared 45% in the six months to August 31, it said Wednesday a?? suggesting allegations of exploitation at suppliers' factories has not hurt its standing among customers.The British company earned A?816.5 million ($1.05 billion) in sales in the six months to August 31, compared to A?564.9 million ($726.7 million) the same time last year. Non-UK sales now account for 47% of Boohoo's revenue, after the company saw growth across all regions.Sales in the US nearly doubled year-on-year, with the company selling A?202.2 million ($259.5 million) worth of goods between February and August, it said.
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