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Boohoo Thrives Under Lockdown With Shares and Sales Soaring

  • Online fashion retailer’s three-month sales to May 31 rose 45%
  • Shares gain as much as 11% on Wednesday, hitting record high
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The 12-week closure of the U.K.’s shops has been a boon for online fashion retailer Boohoo Group Plc, which is outpacing its brick-and-mortar focused rivals in both its sales growth and share price.

A 45% revenue increase in the three months to May 31 crushed the consensus analyst estimate for 15% growth, while the stock rose as much as 11% to an all-time high. That extended its gain for the year to 43%, in contrast with the sharp declines in stocks of most retailers.