boohoo group plc Trading Update

Date : 09/05/2019 @ 7:01AM
Source : UK Regulatory (RNS & others)
Stock : Boohoo Group Plc (BOO)
Quote : 186.5  -1.2 (-0.64%) @ 8:23AM
Boohoo share price Chart

boohoo group plc Trading Update

TIDMBOO

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")

Trading Update

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.

 
 Enquiries 
 boohoo group plc 
 Neil Catto, Chief Financial Officer              Tel: +44 (0)161 233 
                                                   2050 
 Alistair Davies, Investor Relations              Tel: +44 (0)161 233 
                                                   2050 
 Clara Melia, Investor Relations                  Tel: +44 (0)20 3289 
                                                   5520 
 
 Zeus Capital - Nominated adviser and joint 
  broker 
 Nick Cowles/Andrew Jones (Corporate Finance)     Tel: +44 (0)161 831 
                                                   1512 
 John Goold/Benjamin Robertson (Corporate         Tel: +44 (0)20 3829 
  Broking)                                         5000 
 
 Jefferies - Joint broker 
 Max Jones/Philip Noblet                          Tel: +44 (0)20 7029 
                                                   8000 
 
 Buchanan - Financial PR adviser                  boohoo@buchanan.uk.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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

September 05, 2019 02:01 ET (06:01 GMT)

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