boohoo.com plc Trading Update (6912P)

TIDMBOO

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"

 
 GBP'000           Three months ended 
                     31(st) 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 
   --     GBP58m 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                       c/o Buchanan Tel: [phone] 
  Mahmud Kamani, Joint Chief           5000 
  Executive                            [e-mail] 
  Carol Kane, Joint Chief Executive    Tel: [phone] 
  Neil Catto, Chief Financial 
  Officer 
  Benjamin Robertson, Investor 
  Relations 
 Buchanan - Financial PR adviser      Tel: [phone] 
  Richard Oldworth                     [e-mail] 
  Helen Chan 
  Gabriella Clinkard 
 Zeus Capital - Nominated adviser      Tel: [phone] 
  and joint broker                      Tel: [phone] 
  Nick Cowles 
  Andrew Jones 
  John Goold 
 Jefferies Hoare Govett - joint        Tel: [phone] 
  broker 
  Nick Adams 
  Max Jones 
  Ben Bailey 
 

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

 
 GBP'000s    Q1        yoy    yoy    Q2       yoy   yoy 
                        %       %              %      % 
                               CER                   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% 
----------  -------  ------  -----  -------  ----  ----- 
 
 
 GBP'000s    4m       yoy   yoy    2m       yoy   yoy    FY15      yoy   yoy 
              to       %      %     to       %      %               %      % 
              Dec            CER    Feb            CER                    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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