TIDMBOO
RNS Number : 0827H
boohoo.com plc
11 March 2015
For immediate release 11 March 2015
boohoo.com plc - trading update for the two months and
highlights for the year to 28(th) February 2015
"The Global Fashion Leader for a Social Generation"
GBP'000 Two months to 28(th) February Year to 28(th) February 2015
2015
FY15 FY14 Increase CER FY15 FY14 Increase CER
--------- -------- -------- ---------- ---- -------- -------- --------- ----
Sales 21,861 17,870 22% 24% 139,851 109,791 27% 31%
UK 14,558 12,845 13% 13% 94,342 70,992 33% 33%
ROE 2,903 2,202 32% 46% 18,086 13,058 39% 47%
ROW 4,400 2,823 56% 59% 27,423 25,741 7% 16%
--------- -------- -------- ---------- ---- -------- -------- --------- ----
Highlights for the two months to 28(th) February 2015
-- Revenue up 22% (24% CER)
-- Strong performance in the Rest of the World
-- Gross margin approximately 58%, reflecting the January sale
-- 3m active customers, up 29% on prior year
-- Focus on conversion and profit margin during the period ahead
of accelerating marketing spend into the Spring Summer 2015
season
Highlights for the year to 28(th) February 2015
-- Revenue up 27% (31% CER)
-- Gross margin approximately 61%
-- EBITDA margin for the year expected to be approximately 10%
-- Continued investment in warehouse infrastructure with the WMS
successfully implemented and construction of the warehouse
extension scheduled for completion in April
-- New fully responsive website delivering improved mobile
experience with handheld now accounting for almost 50% of
visits
-- Product range continues to be extended with the successful
launch of boohoo Petite and boohoo FIT during the period
-- GBP54m cash on balance sheet at year end
Commentary
Following a challenging third quarter to our financial year in
the UK, we have focussed on driving customer conversion and margin
during the two months to February 2015. January is a promotional
month and February a transitional month into the Spring season so
we have held marketing spend at c.10% of sales ahead of increasing
that towards levels seen in the first quarter last year. Early
indications suggest our Spring #WeAreUs campaign is being
positively received and was trending at the number one position on
Twitter on launch day.
We have continued to gain market share in the UK, achieving a
2.17% share of traffic in February 2015 according to Hitwise, a 12%
improvement on the prior year.
The Rest of Europe continued to perform strongly for boohoo.com
during the period, with 46% constant currency growth, a reflection
of our focus on fewer key markets. In the Rest of World, investment
in our proposition continued to produce encouraging results with
continued acceleration of growth in the last two months of the
year.
Group EBITDA margins are expected to be in line with previous
guidance of approximately 10% for the year.
Our investment in infrastructure and IT continues and we expect
the construction of the extension to the warehouse to be completed
during April which will provide significant capacity for future
growth.
Mobile now represents almost half of all sessions and daily
unique visitors. The new responsive website launched in September
has seen mobile conversion improve by over 40% in the last
quarter.
The Board has considered the levels of cash in the business and
will be seeking authorisation to buy back up to 10% of issued share
capital to be approved at the next AGM. Any share buy back would
also be conditional on independent shareholders approving a
whitewash resolution pursuant to Rule 9 of the City Code on
Takeovers and Mergers.
Joint Chief Executives Mahmud Kamani and Carol Kane
commented:
"We continue to build our business for the long term, as we
stated at our IPO last year, and our clear objective is to deliver
sustainable growth. We remain absolutely focussed on execution and
are increasing our marketing spend in FY16 to drive momentum in the
business."
Analyst/Investor conference call:
boohoo.com will host a conference call for analysts and
investors at 9.30am (UK time) today. Please call/email Buchanan for
dial-in details. The results for the full year are expected to be
announced on 6(th) May 2015.
Enquiries
boohoo.com plc c/o Buchanan Tel: +44 (0)20 7466 5000
Mahmud Kamani, Joint Chief Executive ben.robertson@boohoo.com
Carol Kane, Joint Chief Executive Tel: +44 77 6851 1056
Neil Catto, Chief Financial Officer
Benjamin Robertson, Investor Relations
Buchanan - Financial PR adviser Tel: +44 (0)20 7466 5000
Richard Oldworth boohoo@buchanan.uk.com
Helen Chan
Gabriella Clinkard
Zeus Capital - Nominated adviser and Tel: +44 (0)161 831 1512
joint broker Tel: +44 (0)20 7533 7727
Nick Cowles
Andrew Jones
John Goold
Jefferies Hoare Govett - joint broker Tel: +44 (0)20 7029 8000
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 to yoy yoy 2m to yoy yoy FY15 yoy yoy
Dec % % Feb % % % %
CER CER CER
---------- ------- ---- ----- ------- ---- ----- -------- ---- -----
Sales 50,793 25% 27% 21,860 22% 24% 139,851 27% 31%
UK 34,179 26% 26% 14,558 13% 13% 94,342 33% 33%
ROE 6,464 35% 41% 2,903 32% 46% 18,086 39% 47%
ROW 10,150 19% 24% 4,399 56% 59% 27,423 7% 16%
---------- ------- ---- ----- ------- ---- ----- -------- ---- -----
Revenue by period for the year ending 28(th) February 2014
GBP'000s Q1 yoy yoy Q2 yoy yoy
% % % %
CER CER
---------- ------- ----- ----- ------- ----- -----
Sales 24,825 127% 118% 26,607 78% 80%
UK 14,354 68% 68% 16,577 80% 80%
ROE 2,862 112% 104% 3,219 107% 93%
ROW 7,609 626% 597% 6,811 63% 76%
---------- ------- ----- ----- ------- ----- -----
GBP'000s 4m to yoy yoy 2m to yoy yoy FY14 yoy yoy
Dec % % Feb % % % %
CER CER CER
---------- ------- ---- ----- ------- ------ ----- -------- ---- -----
Sales 40,488 44% 45% 17,870 35% 38% 109,791 63% 63%
UK 27,216 50% 50% 12,845 54% 54% 70,992 60% 60%
ROE 4,774 63% 52% 2,203 45% 33% 13,058 78% 66%
ROW 8,498 21% 28% 2,823 (16)% (5)% 25,741 65% 72%
---------- ------- ---- ----- ------- ------ ----- -------- ---- -----
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTGGUWAWUPAGQU
Boohoo (LSE:BOO)
Historical Stock Chart
From Apr 2024 to May 2024
Boohoo (LSE:BOO)
Historical Stock Chart
From May 2023 to May 2024