RNS Number : 2738L
boohoo group plc
05 September 2019
For Immediate Release 5 September 2019
The information contained within this announcement is deemed by the company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
boohoo group plc
("boohoo" or the "Group")
boohoo group plc ('the Group') today announces a trading update for the first half of its financial year, where performance has been ahead of expectations with strong revenue growth driving operating leverage across key brands.
Consequently, the board now anticipates that results for the current financial year will be ahead of previous guidance, with Group sales growth now expected to be between 33% and 38% (against previous guidance of 25% to 30%). The board anticipates EBITDA margins for the financial year to remain at around 10% (in line with previous guidance), reflecting anticipated investments across the financial year into the three brands acquired by the Group in the first half.
Further guidance will be given at the Group's interim results on 25 September 2019.
boohoo group plc
Neil Catto, Chief Financial Officer Tel: +44 (0)161 233
Alistair Davies, Investor Relations Tel: +44 (0)161 233
Clara Melia, Investor Relations Tel: +44 (0)20 3289
Zeus Capital - Nominated adviser and joint
Nick Cowles/Andrew Jones (Corporate Finance) Tel: +44 (0)161 831
John Goold/Benjamin Robertson (Corporate Tel: +44 (0)20 3829
Jefferies - Joint broker
Max Jones/Philip Noblet Tel: +44 (0)20 7029
Buchanan - Financial PR adviser email@example.com
Richard Oldworth/Sophie Wills/Kim Looringh-van Tel: +44 (0)20 7466
Beeck/Toto Berger 5000
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006 by Mahmud Kamani and Carol Kane, boohoo is an inclusive and innovative brand targeting young, value-orientated customers. For 13 years, boohoo has been pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7. boohoo has grown rapidly in the UK and internationally, expanding its offering with range extensions into menswear, through boohooMAN.
In early 2017 the group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing, and free-thinking brand Nasty Gal and in March 2019 acquired the MissPap brand. United by a shared customer value proposition, our brands design, source, market and sell great quality clothes, shoes and accessories at unbeatable prices. This investment proposition has helped us grow from a single brand, into a major multi-brand online retailer, leading the fashion eCommerce market around the world. In August 2019, the group announced the acquisition of the online businesses for renowned British fashion brands Karen Millen and Coast, further extending the group's reach and target market.
As at 28 February 2019, the boohoo group had around 13 million active customer accounts across all its brands around the world.
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(END) Dow Jones Newswires
September 05, 2019 02:01 ET (06:01 GMT)