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Boohoo earnings up 37% as pandemic drives business online

British online fashion retailer Boohoo has today reported a 37% jump in full-year core earnings, benefiting from the rise in digital shopping during the Covid-19 pandemic.

The group sells clothing, shoes, accessories and beauty products targeted at 16 to 40-year-olds. It said it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of £173.6m in the year to February 28.

That was ahead of analysts' average forecast of £171.3m and more than the £126.6m made in 2019-2020 financial year. Unlike rivals that rely on stores which had to shutter for several months during coronavirus lockdowns, Boohoo was able to trade throughout.

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