Boohoo's Revenue, Profits from 2017 to 202115 Jan 2023 23:52
Boohoo's Revenue from 2017 to 2021 grew from £295m to £1,745m.
Boohoo's net profit from 2017 to 2021 grew from £24.5m to £90.7m
That's nearly six times growth for revenue and 4 times growth for net profit.
From about 2022 onwards Boohoo lost market share to Shein. For 2022, Boohoo's revenue was £1,983m so only £240m more than 2021. Whereas from 2020 to 2021 revenue had grown by £500m. Yes there were headwinds for Boohoo in 2022 and one of them was Shein
So, in 2022 revenue growth for Boohoo halved.
Net profit from 2020 to 2021 was £90.7m.
Net loss from 2021 to 2022 was £4m so in fact a loss of £94.7m in net profit from 2021 to 2022.
Stockopedia, which bought Company Refs by Jim Slater and uses this to give ratings for shares, estimate that Boohoo's revenue for 2023 will be £1812m so £170m less revenue than 2022 with a net loss of £36.5m.
For 2024, Stockopedia estimate Revenue of £1,922m, only £110m more than 2023, with a net loss of £10.9m.
It's obvious from these figures how much Boohoo is losing out to Shein and will continue to lose to Shein and also to the likes of Mike Ashley's Frasers Group who are now into fast fashion too.
Boohoo's moat has been well and truly broken for its lead in fast fashion.