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boohoo.com plc (BOO)

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Wednesday 10 June, 2015

boohoo.com plc

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 31st 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 31st 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:         +44 (0)20 3428 1542
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: +44 (0)20 7466 5000

 

 

 

[email protected]

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%

21,854

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


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