# boohoo group reports strong growth over the last two years

- Link: https://www.directorstalkinterviews.com/boohoo-group-reports-strong-growth-over-the-last-two-years/4121056307
- Published: 2022-03-10T07:28:36+00:00
- Author: Giles

**[Boohoo](https://www.directorstalkinterviews.com/company/boohoo/boo.l) Group plc**(
LON:BOO) has provided an update for the three and twelve months ended 28 February
2022. The Group has delivered net sales growth in the fourth quarter of 7% (2 Year
growth: 48%), and over the full year of 14% (2 Year growth: 61%), in line with guidance.
In the fourth quarter, gross sales growth was strong (+26% vs. last year and +57%
vs. two years ago). As expected, net sales growth in the quarter was impacted by
higher returns rates year on year due to product mix. This is expected to continue
in the first half of FY23.

In the UK, the Group continues to deliver a strong trading performance with our 
leading proposition resonating with customers. International performance continues
to be impacted by longer customer delivery times as a result of pandemic-related
supply chain pressures. However, in the fourth quarter, the Group saw a return to
growth in ROW due to the positive contribution from wholesale.

The Group expects, subject to audit, to report adjusted EBITDA for the financial
year ended 28 February 2022 of approximately £125 million, in line with prior guidance
issued in December and market expectations (company-compiled consensus adjusted 
EBITDA for FY22 of £125 million).

> **John Lyttle, Boohoo Group CEO, commented:**
> “The Group has delivered strong growth over the last two years, which has translated
> into significant market share gains. We are confident that pandemic-related headwinds
> are short-term in their nature, and our focus is to ensure the business is well
> positioned for growth as these headwinds ease.”

**Notice of full year results**

The Group intends to publish its full year results for the year ended 28 February
2022 on 4 May 2022.

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