Trading Update

RNS Number : 4946A

boohoo.com plc

08 June 2016

 

For Immediate Release

8 June 2016

boohoo.com plc - trading update for the 3 months ended 31 May 2016

"The Global Fashion Leader for a Social Generation"

£'000s	3 months to 31 May
	FY17	FY16	yoy %	yoy % CER
Total revenue	58,222	41,322	41%	42%
Revenue by region
UK	37,396	26,273	42%	42%
ROE	6,938	4,943	40%	43%
ROW	13,888	10,106	37%	40%

Highlights for the three months ended 31 May 2016

·     Revenue up 41% (42% CER)

·     Strong UK performance supported by third party sales

·     Retail gross margin 57.6%, down 300 bps on prior year, driven by planned investments in price and customer proposition

·     Marketing expenditure reduced as a percentage of sales, offsetting retail margin decline

·     Overall gross margin 56%

·     4.2 million active customers, up 30% on prior year

·     £61m cash on balance sheet

Joint Chief Executives Mahmud Kamani and Carol Kane commented:

"We are encouraged by our performance in the first quarter, with revenue growth in all geographic regions and slightly ahead of our expectations. Our international business continues to gather momentum and accounts for 36% of revenue.

Profitability has improved as marketing expenditure, as a percentage of revenue, has been reduced, in line with our strategy of improving the customer proposition to build customer lifetime value.

We continue to broaden our product range, increase our fashion appeal and offer incredible prices. Active customer numbers, order frequency, basket size and conversion continue to climb.

Our warehouse expansion programme continues with the fit-out of three additional mezzanine floors nearing completion and planning is underway for a new building on the adjacent site to meet our future capacity requirements.

We now expect sales growth for the financial year of between 25% and 30%.  We expect EBITDA margins in line with last year although we will look at opportunities to drive incremental growth by investing in the customer proposition and our international markets. We continue to execute on our strategy and refine our ecommerce platform to deliver a market-leading shopping experience for fashionable product at incredible prices."

Investor and Analyst conference call

boohoo.com will host a conference call for analysts and investors at 8.00am (UK time) today. Dial in details:

UK Toll Number:	020 3428 1542
UK Toll-Free Number:	080 8237 0040
Participant Pass Code:	42918453#

For international dial in numbers please see the following link: http://events.arkadin.com/ev/docs/FEL_Events_International_Access_List.pdf

Enquiries

boohoo.com plc Mahmud Kamani, Joint Chief Executive Carol Kane, Joint Chief Executive Neil Catto, Chief Financial Officer	c/o Buchanan Tel: [phone]
Buchanan - Financial PR adviser Richard Oldworth Hannah Brandstaetter Madeleine Seacombe	Tel: [phone] [e-mail]
Zeus Capital - Nominated adviser and joint broker Nick Cowles/Andrew Jones (Corporate Finance) John Goold/Benjamin Robertson (Corporate Broking)	Tel: [phone] Tel: [phone]
Jefferies Hoare Govett - joint broker Nick Adams Max Jones	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 etailers, 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/page/home	fr.boohoo.com
www.boohoo.com/europe/page/home	www.boohoo.com/sweden/page/home	de.boohoo.com
www.boohoo.com/usa/page/home	www.boohoo.com/denmark/page/home	it.boohoo.com
www.boohoo.com/canada/page/home	www.boohoo.com/norway/page/home	nl.boohoo.com
www.boohoo.com/aus/page/home		es.boohoo.com

 

Appendix - prior period revenues

Revenue by period for the year to 28 February 2017

£'000s	3m to 31 May
	FY17	FY16	yoy %	yoy % CER
Total	58,222	41,322	41%	42%
Sales by region
UK	37,396	26,273	42%	42%
ROE	6,938	4,943	40%	43%
ROW	13,888	10,106	37%	40%

Revenue by period for the year to 29 February 2016

£'000s	3m to 31 May				3m to 31 August				6m to 31 August
	FY16	FY15	yoy %	yoy % CER	FY16	FY15	yoy %	yoy % CER	FY16	FY15	yoy %	yoy % CER
Total	41,322	30,659	35%	37%	49,462	36,538	35%	40%	90,784	67,197	35%	39%
Sales by region
UK	26,273	20,686	27%	27%	32,855	24,919	32%	32%	59,128	45,605	30%	30%
ROE	4,943	3,891	27%	45%	5,460	4,828	13%	26%	10,403	8,719	19%	34%
ROW	10,106	6,082	66%	70%	11,147	6,791	64%	81%	21,253	12,873	65%	75%

£'000s	4m to 31 December				2m to 29 February				12m to 29 February
	FY16	FY15	yoy %	yoy % CER	FY16	FY15	yoy %	yoy % CER	FY16	FY15	yoy %	yoy % CER
Total	73,692	50,793	45%	49%	30,918	21,861	41%	40%	195,394	139,851	40%	42%
Sales by region
UK	49,701	34,179	45%	45%	21,267	14,558	46%	46%	130,096	94,342	38%	38%
ROE	8,588	6,464	33%	44%	3,639	2,903	25%	20%	22,630	18,086	25%	35%
ROW	15,403	10,150	52%	63%	6,012	4,400	37%	33%	42,668	27,423	56%	63%

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

 

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