Boohoo to hit £1bn by 2020

Manchester-based etailer Boohoo is expected to grow by 50% this year, putting it on track to hit a turnover of £1bn by 2020.

Sales in the year to February at the business were £295m and profits were £31m.

Boohoo’s new acquisitions, Pretty Little Thing and US brand Nasty Gal, will help drive growth, according to John Stevenson of stockbroker Peel Hunt.

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