The good news just keeps coming from Boohoo.com with the online fashion retailer late on Wednesday saying sales more-than-doubled in the past three months and announcing major moves to help it accelerate its growth.
It was another year of power growth for Boohoo and expect more of the same this year as PrettyLittleThing and Nasty Gal boost revenues. Key to its growth story is global revenue as non-UK shoppers spend more per order.
Bebe will reportedly close its brick-and-mortar locations to be an online brand. The women's retailer said in February that it would close 25 stores, the latest U.S. brand to buckle under the shift toward e-commerce.
Nasty Gal is cutting jobs and closing stores following the acquisition of its brand name and other assets by UK-based Boohoo.com. It will close two California stores by month-end as its sale to Boohoo completes.
The active acquisition strategy of UK fashion e-tailer Boohoo.com is keeping it in the news at the moment but on Tuesday it made headlines for its existing business as sales soared and the US operations raced ahead.
Boohoo.com said Monday that the process for its proposed acquisition of failed Nasty Gal’s assets for $20m has been given the go ahead by the US Bankruptcy Court. But there is still time for other bidders to weigh in.