Boohoo promises lessons have been learned from profit alert as sales surge

Online fashion retailer Boohoo has attempted to calm nervy investors, admitting it had learned from mistakes that led to a shock profit warning earlier this year.

Chief executive Carol Kane said: “You learn from lessons, and we learned we need to get a good start from every season. There were several factors that we don’t think will repeat themselves.”

Although the claims were backed up with a 27% jump in sales to £140 million and pre-tax profits ahead by 3% to £11.1 million in maiden results, investors remained unimpressed as the shares nudged down 1% to 27.72p. They listed at 50p a year ago.

The company said it will continue to increase its marketing spend as it attempts to win more customers, and is also launching a trial by selling its clothes through Asos.

Its Petite, FIT and Plus ranges sold well and bosses also plan to introduce a range for tall people later this year.

Kane added: “Fashion on trend at the moment is all about flares, prints and psychedelia.”