Boohoo hails record Black Friday sales

Online fast fashion retailer Boohoo said on Tuesday that it achieved record sales over the Black Friday weekend.

In a brief trading update, the owner of brands such as PrettyLittleThing and Nasty Gal said trading since its half year end remained strong across its key brands and that both warehouses, Burnley and Sheffield, had a "strong" operational performance.

Boohoo said its newly-acquired brands - Karen Millen, Coast, and MissPap - have been successfully integrated onto its platform and initial ranges have been "very well received".

"The group continues to trade comfortably in line with market expectations and will provide further financial information covering the trading period for the four months to 31 December 2019 on 14 January 2020," it said.

Shore Capital analysts Greg Lawless and Clive Black said: "In our view, the Boohoo group has momentum and continues to leverage its multi-brand platform.

"With seven brands in the portfolio the company is starting to resemble Inditex (owner of Zara) with a stable of eight high street brands. We are happy to reiterate our buy rating. Boohoo group remains a key disruptor in UK clothing and this is another good trading update which will reassure investors that the momentum continues."

At 0810 GMT, the shares were up 2.8% at 308p.