Last checked at 8 Jun 2016 07:00
For Immediate Release | 8 June 2016 |
boohoo.com plc - trading update for the 3 months ended 31 May 2016
"The Global Fashion Leader for a Social Generation"
£'000s | 3 months to 31 May | |||
| FY17 | FY16 | yoy % | yoy % CER |
Total revenue | 58,222 | 41,322 | 41% | 42% |
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Revenue by region | ||||
UK | 37,396 | 26,273 | 42% | 42% |
ROE | 6,938 | 4,943 | 40% | 43% |
ROW | 13,888 | 10,106 | 37% | 40% |
Highlights for the three months ended 31 May 2016
· Revenue up 41% (42% CER)
· Strong UK performance supported by third party sales
· Retail gross margin 57.6%, down 300 bps on prior year, driven by planned investments in price and customer proposition
· Marketing expenditure reduced as a percentage of sales, offsetting retail margin decline
· Overall gross margin 56%
· 4.2 million active customers, up 30% on prior year
· £61m cash on balance sheet
Joint Chief Executives Mahmud Kamani and Carol Kane commented:
"We are encouraged by our performance in the first quarter, with revenue growth in all geographic regions and slightly ahead of our expectations. Our international business continues to gather momentum and accounts for 36% of revenue.
Profitability has improved as marketing expenditure, as a percentage of revenue, has been reduced, in line with our strategy of improving the customer proposition to build customer lifetime value.
We continue to broaden our product range, increase our fashion appeal and offer incredible prices. Active customer numbers, order frequency, basket size and conversion continue to climb.
Our warehouse expansion programme continues with the fit-out of three additional mezzanine floors nearing completion and planning is underway for a new building on the adjacent site to meet our future capacity requirements.
We now expect sales growth for the financial year of between 25% and 30%. We expect EBITDA margins in line with last year although we will look at opportunities to drive incremental growth by investing in the customer proposition and our international markets. We continue to execute on our strategy and refine our ecommerce platform to deliver a market-leading shopping experience for fashionable product at incredible prices."
Investor and Analyst conference call
boohoo.com will host a conference call for analysts and investors at 8.00am (UK time) today. Dial in details:
UK Toll Number: | 020 3428 1542 |
UK Toll-Free Number: | 080 8237 0040 |
Participant Pass Code: | 42918453# |
For international dial in numbers please see the following link: http://events.arkadin.com/ev/docs/FEL_Events_International_Access_List.pdf
Enquiries
boohoo.com plc Mahmud Kamani, Joint Chief Executive Carol Kane, Joint Chief Executive Neil Catto, Chief Financial Officer
| c/o Buchanan Tel: +44 (0)20 7466 5000
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Buchanan - Financial PR adviser Richard Oldworth Hannah Brandstaetter Madeleine Seacombe | Tel: +44 (0)20 7466 5000 boohoo@buchanan.uk.com
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Zeus Capital - Nominated adviser and joint broker Nick Cowles/Andrew Jones (Corporate Finance) John Goold/Benjamin Robertson (Corporate Broking)
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Tel: +44 (0)161 831 1512
Tel: +44 (0)20 3829 5000 |
Jefferies Hoare Govett - joint broker Nick Adams Max Jones
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Tel: +44 (0)20 7029 8000
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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 etailers, 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 |
www.boohoo.com/usa/page/home | www.boohoo.com/denmark/page/home | it.boohoo.com |
www.boohoo.com/canada/page/home | www.boohoo.com/norway/page/home | nl.boohoo.com |
www.boohoo.com/aus/page/home |
| es.boohoo.com |
Appendix - prior period revenues
Revenue by period for the year to 28 February 2017
£'000s | 3m to 31 May | |||
| FY17 | FY16 | yoy % | yoy % CER |
Total | 58,222 | 41,322 | 41% | 42% |
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Sales by region | ||||
UK | 37,396 | 26,273 | 42% | 42% |
ROE | 6,938 | 4,943 | 40% | 43% |
ROW | 13,888 | 10,106 | 37% | 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% |
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Sales by region |
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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% |
ROW | 10,106 | 6,082 | 66% | 70% | 11,147 | 6,791 | 64% | 81% | 21,253 | 12,873 | 65% | 75% |
£'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% |
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Sales by region |
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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% |
ROW | 15,403 | 10,150 | 52% | 63% | 6,012 | 4,400 | 37% | 33% | 42,668 | 27,423 | 56% | 63% |
Nomenclature: ROE - rest of Europe; ROW - rest of world; yoy - year-on-year; CER - constant exchange rate