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boohoo.com plc (BOO)

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Tuesday 10 January, 2017

boohoo.com plc

Trading Update

RNS Number : 7225T
boohoo.com plc
10 January 2017
 



For Immediate Release                                                                 10 January 2017

 

 

 

 

boohoo.com plc - trading update for the four months to 31 December 2016

 

"The voice and style of the social generation"

 


Four months to 31 December

Ten months to 31 December

£'000s

FY17

FY16

Increase

CER(1)

FY17

FY16

Increase

CER

Total sales

114,294

73,692

55%

52%

241,610

164,476

47%

46%










Sales by region









  UK

65,015

49,701

31%

31%

146,711

108,829

35%

35%

  ROE

13,963

8,588

63%

54%

28,676

18,991

51%

47%

  USA

19,649

5,962

230%

188%

34,875

13,864

152%

130%

  ROW

15,667

9,441

66%

57%

31,348

22,792

38%

40%

 

 

Highlights for the four months to 31 December 2016

·     Revenue up 55% (52% CER(1))

UK up 31%, rest of Europe up 63% (54% CER), USA up 230% (188% CER), rest of world up 66% (57% CER)

·     Gross margin 53.1%, down 260bps (Retail gross margin 54.4%, down 260bps due to planned investment in price and promotions)

·     Broader product range driving growth, launch of kids wear

·     5.1m active customers(2), up 31% on prior year

·     Acquisition of PrettyLittleThing completed on 3 January 2017

·     Strong balance sheet with net cash of £69m

 (1): CER designates Constant Exchange Rate translation of foreign currency revenue

 (2): Active customers defined as having shopped in the last year

 

Mahmud Kamani and Carol Kane, joint CEOs, commented:

"Trading in the four months to 31 December 2016 has been strong across all regions. Our strategy offering great pricing, enticing promotions and an ever-broader range of the latest fashion continues to drive growth and enhance customer lifetime value. In particular, sales momentum in the USA has continued robustly, helped by our strong customer proposition across the Black Friday weekend.

We are delighted to have completed the acquisition of a majority stake in PrettyLittleThing on 3 January 2017 and we welcome the team to the enlarged boohoo.com group. This is a fantastic brand to complement boohoo.com's own brand, and we look forward to building on its success.

Progress is being made towards a further warehouse extension at Burnley to support growth in the longer term and investment in our IT infrastructure continues. The USA website was moved to a new platform in October and our mobile Apps in the UK and internationally continue to grow in popularity.

As a result of the strong trading through Black Friday continuing into the Christmas season, we now expect revenue growth for boohoo.com (excluding PrettyLittleThing) to be between 43% and 45% in the year to 28 February 2017, above previous guidance of between 38% and 42%. As previously announced, PrettyLittleThing is expected to achieve revenue growth in excess of 150% for the year to 28 February 2017 (FY16 revenue: £17.0m), while being broadly breakeven at EBITDA level. Consequently, group revenue growth, including PrettyLittleThing, is expected to be between 46% and 48% and group EBITDA margin between 11% and 12%."

Investor and Analyst conference call

 

boohoo.com will host a conference call for analysts and investors at 8.30am (UK time) today. Dial in details:

 

Tollfree/Freephone:

0800 358 6377

Local:

+44 (0)330 336 9105

Conference ID:

6375640

 

Enquiries

boohoo.com plc

Neil Catto, Chief Financial Officer

Clara Melia, Investor Relations

 

Tel: +44 (0)161 233 2050

Tel: +44 (0)7748 171236

 

Zeus Capital - Nominated adviser and joint broker

Nick Cowles/Andrew Jones (Corporate Finance)

John Goold/Benjamin Robertson (Corporate Broking)

 

Tel: +44 (0)161 831 1512

Tel: +44 (0)20 3829 5000

Jefferies Hoare Govett - Joint broker

Nick Adams/Max Jones

 

Tel: +44 (0)20 7029 8000

 

Buchanan - Financial PR adviser

Richard Oldworth/Madeleine Seacombe/

Jane Glover

Tel: +44 (0)20 7466 5000

[email protected]

About boohoo.com

"The voice and style of the social generation"

 

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

 

From the UK's best kept fashion secret to one of the fastest growing international retailers, 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

us.boohoo.com

www.boohoo.com/denmark/page/home

it.boohoo.com

ca.boohoo.com

www.boohoo.com/norway/page/home

nl.boohoo.com

www.boohoo.com/aus/page/home

fi.boohoo.com

es.boohoo.com

www.boohooman.com



 

 

 

 

About PrettyLittleThing

Founded in 2012, PrettyLittleThing originated as an accessories only website. It soon saw that its customers wanted to buy top to toe outfits and introduced a clothing range in 2013. Since then PLT has grown into a forward-thinking fashion brand offering killer affordable style to female fashion breakers and makers. The business is all about the right here, right now. PLT doesn't just anticipate trends; it creates them, taking inspiration from the catwalk, celebrities, and influencers, making sure they're available for the customer to shop on PLT's site before they are available anywhere else.

 

www.prettylittlething.com

ie.prettylittlething.com


www.prettylittlething.us



www.prettylittlething.com.au




 

 

Appendix - prior period revenues by region

 

Revenue by period for the ten months ended 31 December 2016

 

£'000s

3m to 31 May

3m to 31 August

6m to 31 August


FY17

FY16

yoy %

yoy % CER

FY17

FY16

yoy %

yoy %

CER

FY17

FY16

yoy %

 

yoy %

CER

Total

58,222

41,322

41%

42%

69,094

49,462

40%

40%

127,316

90,784

40%

41%










Sales by region









 UK

37,396

26,273

42%

42%

44,300

32,855

35%

35%

81,696

59,128

38%

38%

 ROE

6,938

4,943

40%

43%

7,775

5,460

42%

40%

14,713

10,403

41%

41%

 USA

6,385

3,815

67%

60%

8,841

4,086

116%

100%

15,226

7,901

93%

81%

 ROW

7,503

6,291

19%

27%

8,178

7,061

16%

27%

15,681

13,352

17%

27%

 

£'000s

4m to 31 December

10m to 31 December


FY17

FY16

yoy %

yoy % CER

FY17

FY16

yoy %

yoy %

CER

Total

114,294

73,692

55%

52%

241,610

164,476

47%

46%






Sales by region





 UK

65,015

49,701

31%

31%

146,711

108,829

35%

35%

 ROE

13,963

8,588

63%

54%

28,676

18,991

51%

47%

 USA

19,649

5,962

230%

188%

34,875

13,864

152%

130%

 ROW

15,667

9,441

66%

57%

31,348

22,792

38%

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%

 USA

3,815

1,485

157%

143%

4,086

1,382

196%

181%

7,901

2,867

176%

161%

 ROW

6,291

4,597

37%

48%

7,061

5,409

31%

55%

13,352

10,006

33%

52%

 



 

 

£'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%

 USA

5,962

2,639

126%

116%

2,659

1,504

77%

63%

16,523

7,009

136%

123%

 ROW

9,441

7,511

26%

41%

3,353

2,895

16%

17%

26,145

20,414

28%

42%

 

 

 

 

 

CER in this appendix for the year ended 29 February 2016 is calculated using exchange rates prevailing during the year ending 29 February 2016.

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



 

This announcement has been determined to contain inside information. 

 

Cautionary Statement

 

Certain statements included or incorporated by reference within this announcement may constitute "forward-looking statements" in respect of the group's operations, performance, prospects and/or financial condition. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words and words of similar meaning as "anticipates", "aims", "due", "could", "may", "will", "should", "expects", "believes", "intends", "plans", "potential", "targets", "goal" or "estimates". By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions and actual results or events may differ materially from those expressed or implied by those statements. Accordingly, no assurance can be given that any particular expectation will be met and reliance should not be placed on any forward-looking statement. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No responsibility or obligation is accepted to update or revise any forward-looking statement resulting from new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast. This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares or other securities in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares or other securities of the Company. Past performance cannot be relied upon as a guide to future performance and persons needing advice should consult an independent financial adviser. Statements in this announcement reflect the knowledge and information available at the time of its preparation. Liability arising from anything in this announcement shall be governed by English law. Nothing in this announcement shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.

 

 


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