Plans for huge new Boohoo warehouse

Boohoo is planning a new warehouse
Boohoo is planning a new warehouse

Online shopping giant Boohoo is planning a new "supersite" warehouse.

Warehouse expansion plans include an automated distribution centre to provide £2bn in annual sales capacity, on top of the £1bn provided by its already extended site in Burnley.

The cost of the land and construction of the warehouse is expected to cost about £150m over the next three years.

A spokesman for the company said Boohoo had yet to decide on a location for the 600,000 sq ft facility.

The company is valued at about £2.8bn – four times as much as Debenhams.

Boohoo shares were floated at 50p three years ago and fell to 23p in the first year, but over the past 12 months they have risen more than 300%.

Mahmud Kamani and Kane, joint chief executives, said the business had performed well across all brands and locations in the first quarter.