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Growth certainly isn't an issue..... Plenty of it!!
Avoiding comparatives against the exceptional growth in 1H21 due to the effect of the pandemic on consumer behaviour, revenue across two years from 1H20 reveals consistent high growth across geographies, with UK +81% and international +63%, including US +126%
We remain extremely confident in the Group's future growth prospects, and as short-term demand uncertainty and material cost headwinds as a result of the pandemic unwind, we believe that the Group continues to be capable of executing its strategy aimed at leading the fashion ecommerce market with medium term guidance of sales growth of 25% per annum and adjusted EBITDA margin of 10% remaining unchanged.
Capex is going up not down
This is good news Boohoo has opened a manufacturing office in Turkey that will circumvent bottlenecks choking supplies of clothing from the Far East.
The Istanbul office means the fast fashion retailer can source more garments made in Turkey, avoiding transport delays for goods made in China, Bangladesh and other Asian countries, which still produce most clothes for British high streets.
https://www.dailymail.co.uk/money/markets/article-10099233/Boohoo-opens-manufacturing-office-Turkey.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
Boohoo and plt are solid brands that people aspire to wear....
Just looks what's in the boo stable -
Boohoo
Boohoo man
Karen millen
Nasty gal
Pretty little thing
Oasis
Coast
Miss pap
Warehouse
Burton
Wallis
Dorothy perkins
Debenhams
That's some serious brands right there.
Boohoo current trading.....
The company is currently ahead of the 20 percent growth achieved in q2....
Consumer demand has been improving through August, principally in the UK but also in key overseas markets such as Ireland and France, where there has been a re-acceleration in the rate of growth. This has again improved in September, where the rate of gross sales growth has increased compared to that achieved in the second quarter of the financial year.
Our expectation is for full year sales growth of 20% to 25%, implying sales growth of 20% to 30% in the second half of the financial year. As we have indicated above, we have seen a re-acceleration in the rate of growth compared to that achieved in the second quarter.
The Group expects to emerge from the pandemic in a far stronger position compared to two years ago. Reflecting significant investments in its platform, brands and people, the Group has:
We remain extremely confident in the Group's future growth prospects, and as short-term demand uncertainty and material cost headwinds as a result of the pandemic unwind, we believe that the Group continues to be capable of executing its strategy aimed at leading the fashion ecommerce market with medium term guidance of sales growth of 25% per annum and adjusted EBITDA margin of 10% remaining unchanged
"Consumer demand has been improving through August, principally in the UK but also in key overseas markets such as Ireland and France, where there has been a re-acceleration in the rate of growth. This has again improved in September, where the rate of gross sales growth has increased compared to that achieved in the second quarter of the financial year."
Boohoo already operating well over 20 percent growth with current logistics.... There is no problem.
Online is the only way!! High-streets are finished...
The US apparel retailer Gap has been struggling in Europe for some years but the pandemic has finished its high street presence. While it continues as an online operation, its closure of its 81 stores in Britain and Ireland is another blow to the battered city centres and shopping malls.
https://www.google.com/amp/s/www.independent.co.uk/voices/gap-closing-uk-stores-high-street-b1876126.html%3famp
https://www.google.com/amp/s/www.business-live.co.uk/retail-consumer/shops-collapsed-administration-2021-19919723.amp
Just look at it!! It's in tatters!!
I like this quote -
"But it’s not all doom and gloom; online retailers have seen a boom in business as people’s shopping habits have changed in the last 12 months."
3000 retail stores closing so far in 2021 due to administrations.... Do people really believe retail is coming back to life?!
https://www.businessinsider.com/stores-closing-in-2021-list-2021-3?r=US&IR=T
Look at primark - OUCHHH!!
Primark half-year sales decline by 41% to £2.23bn, while profit plunged 90% to £43m
https://www.retailgazette.co.uk/blog/2021/04/primark-profits-plunge-90-as-ab-foods-repays-121m-furlough-cash/
Just taking a look at BOO vs ASOS.... the rate at which BOO is taking market share is phenomenal....
Take a look at the revenue growth for BOO...
2012 - 67 million
2013 - 109 million
2014 - 139 million
2015 - 195 million
2016 - 294 million
2017 - 579 million
2018 - 856 million
2019 - 1.2 billion
2020 - 1.75 billion
2021 - 1st half revenue 975 million ( I can see full year being 30 percent more than 2020 so 2.275 billion)
The only short term issue is the shipping costs which is world wide in every industry BUT with air travel returning to normal this cost will also normalise.
If you look at the revenue growth of BOO in the most simple way possible from 2012 to today it has 30 x its revenue!! YES 30 x !!
Lets not forget BOO carries a margin of over 9.5 percent. (ASOS under 5 percent)
Anyone that thinks growth is about to stunt is completely out of touch with reality or they just cant read - Just wait until the acquisitions really start to kick in now we are in the post Covid era!!
The current warehousing and logistics are good for 4 billion of revenue as well so capex will drop back nicely for a few years.
Just take a look at this chart for revenue growth !! - https://www.statista.com/statistics/794862/boohoo-plc-group-revenue-worldwide/
Now compare the above with ASOS - from 2012 to today its revenue has gone from 570 million to 3.2 billion which means ASOS has increased its revenue x 5.7
https://www.statista.com/statistics/485103/asos-revenue-worldwide/