StockMarketWire.com - Online fashion retailer Boohoo upgraded its annual revenue guidance after its sales jumped 44% in the last four months of the calendar year, led by a strong performance in its core UK business.

Revenue growth for the financial year to 29 February 2020 was now expected to be in the range of 40% to 42%, ahead of the retailer's previous guidance of 33% to 38%.

Boohoo also upped its margin guidance, with its EBITDA margin now expected at 10.0% to 10.2%, ahead of previous guidance of around 10%.

In the last four months of the year through December, revenue grew 44% to £473.7m on-year, led by the UK and US, with growth of 42% and 57%., respectively.

Gross margin, however, fell 70 basis points to 53.5% over that period.

The company's performance was also bolstered by newly-acquired brands, MissPap, Karen Millen and Coast, which were 'showing great promise,' Boohoo said. In a separate update, the company also said it had appointed Brian Small as deputy chairman with immediate effect.

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