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boohoo.com plc (BOO)

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Wednesday 11 March, 2015

boohoo.com plc

Trading Update

RNS Number : 0827H
boohoo.com plc
11 March 2015
 



For immediate release

11 March 2015

 

boohoo.com plc - trading update for the two months and highlights for the year to 28th February 2015

 

"The Global Fashion Leader for a Social Generation"

£'000

Two months to 28th February 2015

Year to 28th February 2015


FY15

FY14

Increase

CER

FY15

FY14

Increase

CER

Sales

21,861

17,870

22%

24%

139,851

109,791

27%

31%

   UK

14,558

12,845

13%

13%

94,342

70,992

33%

33%

   ROE

2,903

2,202

32%

46%

18,086

13,058

39%

47%

   ROW

4,400

2,823

56%

59%

27,423

25,741

7%

16%

 

Highlights for the two months to 28th February 2015

·     Revenue up 22% (24% CER)

·     Strong performance in the Rest of the World

·     Gross margin approximately 58%, reflecting the January sale

·     3m active customers, up 29% on prior year

·     Focus on conversion and profit margin during the period ahead of accelerating marketing spend into the Spring Summer 2015 season

 

Highlights for the year to 28th February 2015

·     Revenue up 27% (31% CER)

·     Gross margin approximately 61%

·     EBITDA margin for the year expected to be approximately 10%

·     Continued investment in warehouse infrastructure with the WMS successfully implemented and construction of the warehouse extension scheduled for completion in April

·     New fully responsive website delivering improved mobile experience with handheld now accounting for almost 50% of visits

·     Product range continues to be extended with the successful launch of boohoo Petite and boohoo FIT during the period

·     £54m cash on balance sheet at year end

 

Commentary

Following a challenging third quarter to our financial year in the UK, we have focussed on driving customer conversion and margin during the two months to February 2015.  January is a promotional month and February a transitional month into the Spring season so we have held marketing spend at c.10% of sales ahead of increasing that towards levels seen in the first quarter last year.  Early indications suggest our Spring #WeAreUs campaign is being positively received and was trending at the number one position on Twitter on launch day.

 

We have continued to gain market share in the UK, achieving a 2.17% share of traffic in February 2015 according to Hitwise, a 12% improvement on the prior year.

 

The Rest of Europe continued to perform strongly for boohoo.com during the period, with 46% constant currency growth, a reflection of our focus on fewer key markets.  In the Rest of World, investment in our proposition continued to produce encouraging results with continued acceleration of growth in the last two months of the year.

 

Group EBITDA margins are expected to be in line with previous guidance of approximately 10% for the year.

 

Our investment in infrastructure and IT continues and we expect the construction of the extension to the warehouse to be completed during April which will provide significant capacity for future growth.

 

Mobile now represents almost half of all sessions and daily unique visitors. The new responsive website launched in September has seen mobile conversion improve by over 40% in the last quarter.

 

The Board has considered the levels of cash in the business and will be seeking authorisation to buy back up to 10% of issued share capital to be approved at the next AGM. Any share buy back would also be conditional on independent shareholders approving a whitewash resolution pursuant to Rule 9 of the City Code on Takeovers and Mergers.

 

Joint Chief Executives Mahmud Kamani and Carol Kane commented:

 

"We continue to build our business for the long term, as we stated at our IPO last year, and our clear objective is to deliver sustainable growth.  We remain absolutely focussed on execution and are increasing our marketing spend in FY16 to drive momentum in the business."

 

Analyst/Investor conference call:

boohoo.com will host a conference call for analysts and investors at 9.30am (UK time) today.  Please call/email Buchanan for dial-in details.  The results for the full year are expected to be announced on 6th May 2015.

 

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: +44 (0)20 7466 5000

 

 

 

[email protected]m

Tel: +44 77 6851 1056

 

Buchanan - Financial PR adviser

Richard Oldworth

Helen Chan

Gabriella Clinkard

 

Tel: +44 (0)20 7466 5000

[email protected]

Zeus Capital - Nominated adviser and joint broker

Nick Cowles

Andrew Jones

John Goold

 

 

Tel: +44 (0)161 831 1512

 

Tel: +44 (0)20 7533 7727

Jefferies Hoare Govett - joint broker

Nick Adams

Max Jones

Ben Bailey

 

 

Tel: +44 (0)20 7029 8000

 

 

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 28th 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%

21,860

22%

24%

139,851

27%

31%

   UK

34,179

26%

26%

14,558

13%

13%

94,342

33%

33%

   ROE

6,464

35%

41%

2,903

32%

46%

18,086

39%

47%

   ROW

10,150

19%

24%

4,399

56%

59%

27,423

7%

16%

 

Revenue by period for the year ending 28th February 2014

 

£'000s

Q1

yoy %

yoy %

CER

Q2

yoy %

yoy %

CER

Sales

24,825

127%

118%

26,607

78%

80%

   UK

14,354

68%

68%

16,577

80%

80%

   ROE

2,862

112%

104%

3,219

107%

93%

   ROW

7,609

626%

597%

6,811

63%

76%

 

£'000s

4m to Dec

yoy %

yoy %

CER

2m to Feb

yoy %

yoy %

CER

FY14

yoy %

yoy %

CER

Sales

40,488

44%

45%

17,870

35%

38%

109,791

63%

63%

   UK

27,216

50%

50%

12,845

54%

54%

70,992

60%

60%

   ROE

4,774

63%

52%

2,203

45%

33%

13,058

78%

66%

   ROW

8,498

21%

28%

2,823

(16)%

(5)%

25,741

65%

72%

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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