Trading Update

RNS Number : 6912P

boohoo.com plc

10 June 2015

 

For immediate release

10 June 2015

boohoo.com plc - trading update for the three months ended 31^st May 2015

"The Global Fashion Leader for a Social Generation"

£'000	Three months ended 31st May 2015
	FY16	FY15	Increase	CER
Sales	41,322	30,659	35%	37%
UK	26,273	20,686	27%	27%
ROE	4,943	3,891	27%	45%
ROW	10,106	6,082	66%	70%

Highlights for the three months ended 31^st May 2015

·     Revenue up 35% (37% CER)

·     Gross margin 60.6%

·     3.3m active customers, up 32% on prior year

·     Continued strong performance in the rest of the world region

·     Good response to spring/summer marketing campaigns

·     £58m cash on balance sheet

Commentary

We have seen a good start to the financial year with improved momentum in the UK supported by our spring/summer #WeAreUS campaign.  Sales in the UK were up 27% in the quarter as we continued to grow our share of traffic, acquire new customers and increase order frequency with existing customers on the back of planned increases in marketing spend and investment in our customer proposition.

International sales grew strongly and now represent 36% of group sales as we have executed on our strategy of concentrating on fewer key markets.  Rest of Europe sales increased by 27% in the quarter despite significant Euro headwinds (45% CER).  Growth in the rest of world segment accelerated to 66% during the quarter (70% CER), driven by continued investment in price and focussed marketing initiatives.

Joint Chief Executives Mahmud Kamani and Carol Kane commented:

"We continue to build boohoo.com for the long term and our clear objective is to deliver sustainable future growth.  We remain absolutely focussed on the execution of our strategy to continue to invest in our customer proposition and build market share in our key markets.  

Our investments in the warehouse are on track and we plan to begin partial utilisation of the warehouse extension from July.  Whilst we have invested in accelerating our growth during the quarter, our important peak trading periods are yet to come.  The Board's expectations for full year profit remain unchanged."

Analyst/Investor conference call:

boohoo.com will host a conference call for analyst and investors at 9.00am (UK time) today.  Dial in details:

From rest of world:         [phone]
From UK (toll free):        0808 237 0040
Participant Pass Code:   28569356#

Enquiries

boohoo.com plc Mahmud Kamani, Joint Chief Executive Carol Kane, Joint Chief Executive Neil Catto, Chief Financial Officer Benjamin Robertson, Investor Relations	c/o Buchanan Tel: [phone] [e-mail] Tel: [phone]
Buchanan - Financial PR adviser Richard Oldworth Helen Chan Gabriella Clinkard	Tel: [phone] [e-mail]
Zeus Capital - Nominated adviser and joint broker Nick Cowles Andrew Jones John Goold	Tel: [phone] Tel: [phone]
Jefferies Hoare Govett - joint broker Nick Adams Max Jones Ben Bailey	Tel: [phone]

About boohoo.com

"24/7 Global Fashion"

Keeping one step ahead of the trends or making a subtle style change is easy with boohoo.com and with up to 100 pieces hitting the site every day and a new collection each week, boohoo.com never stops - it's 24/7 fashion at its best.

From the UK's best kept fashion secret to one of the fastest growing own brand, international e-tailers, boohoo.com has quickly evolved into a global fashion leader of its generation.  Combining cutting-edge, aspirational design with an affordable price tag, boohoo.com has been pushing boundaries since 2006 to bring its customers all the latest looks for less.

www.boohoo.com	www.boohoo.com/newz	fr.boohoo.com
www.boohoo.com/europe	www.boohoo.com/sweden	de.boohoo.com
www.boohoo.com/usa	www.boohoo.com/denmark	it.boohoo.com
www.boohoo.com/canada	www.boohoo.com/norway	nl.boohoo.com
www.boohoo.com/aus		es.boohoo.com

 

Appendix - prior period revenues

Revenue by period for the year ending 28^th February 2015

£'000s	Q1	yoy %	yoy % CER	Q2	yoy %	yoy % CER
Sales	30,659	24%	30%	36,538	37%	41%
UK	20,686	44%	44%	24,919	50%	50%
ROE	3,891	36%	40%	4,828	50%	61%
ROW	6,082	(20)%	(6)%	6,791	0%	8%

£'000s	4m to Dec	yoy %	yoy % CER	2m to Feb	yoy %	yoy % CER	FY15	yoy %	yoy % CER
Sales	50,793	25%	27%	21,854	22%	24%	139,845	27%	31%
UK	34,179	26%	26%	14,555	13%	13%	94,339	33%	33%
ROE	6,464	35%	41%	2,903	32%	46%	18,086	39%	47%
ROW	10,150	19%	24%	4,396	56%	59%	27,420	7%	16%

CER in this appendix is calculated using exchange rates prevailing during the year ending 28 February 2015.

Nomenclature: ROE - rest of Europe; ROW - rest of world; yoy - year-on-year; CER - constant exchange rate

 

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