TIDMBOO
RNS Number : 7225T
boohoo.com plc
10 January 2017
For Immediate Release 10 January 2017
boohoo.com plc - trading update for the four months to 31
December 2016
"The voice and style of the social generation"
Four months to 31 December Ten months to 31 December
GBP'000s FY17 FY16 Increase CER(1) FY17 FY16 Increase CER
------------- -------- ------- --------- ------- -------- -------- --------- -----
Total sales 114,294 73,692 55% 52% 241,610 164,476 47% 46%
Sales by
region
UK 65,015 49,701 31% 31% 146,711 108,829 35% 35%
ROE 13,963 8,588 63% 54% 28,676 18,991 51% 47%
USA 19,649 5,962 230% 188% 34,875 13,864 152% 130%
ROW 15,667 9,441 66% 57% 31,348 22,792 38% 40%
------------- -------- ------- --------- ------- -------- -------- --------- -----
Highlights for the four months to 31 December 2016
-- Revenue up 55% (52% CER(1) )
o UK up 31%, rest of Europe up 63% (54% CER), USA up 230% (188%
CER), rest of world up 66% (57% CER)
-- Gross margin 53.1%, down 260bps (Retail gross margin 54.4%,
down 260bps due to planned investment in price and promotions)
-- Broader product range driving growth, launch of kids wear
-- 5.1m active customers(2) , up 31% on prior year
-- Acquisition of PrettyLittleThing completed on 3 January 2017
-- Strong balance sheet with net cash of GBP69m
(1): CER designates Constant Exchange Rate translation of
foreign currency revenue
(2): Active customers defined as having shopped in the last
year
Mahmud Kamani and Carol Kane, joint CEOs, commented:
"Trading in the four months to 31 December 2016 has been strong
across all regions. Our strategy offering great pricing, enticing
promotions and an ever-broader range of the latest fashion
continues to drive growth and enhance customer lifetime value. In
particular, sales momentum in the USA has continued robustly,
helped by our strong customer proposition across the Black Friday
weekend.
We are delighted to have completed the acquisition of a majority
stake in PrettyLittleThing on 3 January 2017 and we welcome the
team to the enlarged boohoo.com group. This is a fantastic brand to
complement boohoo.com's own brand, and we look forward to building
on its success.
Progress is being made towards a further warehouse extension at
Burnley to support growth in the longer term and investment in our
IT infrastructure continues. The USA website was moved to a new
platform in October and our mobile Apps in the UK and
internationally continue to grow in popularity.
As a result of the strong trading through Black Friday
continuing into the Christmas season, we now expect revenue growth
for boohoo.com (excluding PrettyLittleThing) to be between 43% and
45% in the year to 28 February 2017, above previous guidance of
between 38% and 42%. As previously announced, PrettyLittleThing is
expected to achieve revenue growth in excess of 150% for the year
to 28 February 2017 (FY16 revenue: GBP17.0m), while being broadly
breakeven at EBITDA level. Consequently, group revenue growth,
including PrettyLittleThing, is expected to be between 46% and 48%
and group EBITDA margin between 11% and 12%."
Investor and Analyst conference call
boohoo.com will host a conference call for analysts and
investors at 8.30am (UK time) today. Dial in details:
Tollfree/Freephone: 0800 358 6377
Local: +44 (0)330 336 9105
Conference ID: 6375640
Enquiries
boohoo.com plc Tel: +44 (0)161 233 2050
Neil Catto, Chief Financial Officer Tel: +44 (0)7748 171236
Clara Melia, Investor Relations
Zeus Capital - Nominated adviser and Tel: +44 (0)161 831 1512
joint broker Tel: +44 (0)20 3829 5000
Nick Cowles/Andrew Jones (Corporate
Finance)
John Goold/Benjamin Robertson (Corporate
Broking)
Jefferies Hoare Govett - Joint broker Tel: +44 (0)20 7029 8000
Nick Adams/Max Jones
Buchanan - Financial PR adviser Tel: +44 (0)20 7466 5000
Richard Oldworth/Madeleine Seacombe/ boohoo@buchanan.uk.com
Jane Glover
About boohoo.com
"The voice and style of the social generation"
Keeping one step ahead of the trends or making a subtle style
change is easy with boohoo.com and with up to 100 new pieces
hitting the site every day and a new collection each week,
boohoo.com never stops - it is 24/7 fashion at its best.
From the UK's best kept fashion secret to one of the fastest
growing international retailers, 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
us.boohoo.com www.boohoo.com/denmark/page/home it.boohoo.com
ca.boohoo.com www.boohoo.com/norway/page/home nl.boohoo.com
www.boohoo.com/aus/page/home fi.boohoo.com es.boohoo.com
www.boohooman.com
About PrettyLittleThing
Founded in 2012, PrettyLittleThing originated as an accessories
only website. It soon saw that its customers wanted to buy top to
toe outfits and introduced a clothing range in 2013. Since then PLT
has grown into a forward-thinking fashion brand offering killer
affordable style to female fashion breakers and makers. The
business is all about the right here, right now. PLT doesn't just
anticipate trends; it creates them, taking inspiration from the
catwalk, celebrities, and influencers, making sure they're
available for the customer to shop on PLT's site before they are
available anywhere else.
www.prettylittlething.com ie.prettylittlething.com
www.prettylittlething.us
www.prettylittlething.com.au
Appendix - prior period revenues by region
Revenue by period for the ten months ended 31 December 2016
GBP'000s 3m to 31 May 3m to 31 August 6m to 31 August
---------- ------------------------------- ------------------------------ ------------------------------
FY17 FY16 yoy yoy FY17 FY16 yoy yoy FY17 FY16 yoy yoy
% % CER % % % %
CER CER
---------- ------- ------- ---- ------- ------- ------- ----- ----- -------- ------- ---- -----
Total 58,222 41,322 41% 42% 69,094 49,462 40% 40% 127,316 90,784 40% 41%
---------- ------- ------- ---- ------- ------- ------- ----- ----- -------- ------- ---- -----
Sales by region
------------------------------------------- ------- ------- ----- ----- -------- ------- ---- -----
UK 37,396 26,273 42% 42% 44,300 32,855 35% 35% 81,696 59,128 38% 38%
---------- ------- ------- ---- ------- ------- ------- ----- ----- -------- ------- ---- -----
ROE 6,938 4,943 40% 43% 7,775 5,460 42% 40% 14,713 10,403 41% 41%
---------- ------- ------- ---- ------- ------- ------- ----- ----- -------- ------- ---- -----
USA 6,385 3,815 67% 60% 8,841 4,086 116% 100% 15,226 7,901 93% 81%
---------- ------- ------- ---- ------- ------- ------- ----- ----- -------- ------- ---- -----
ROW 7,503 6,291 19% 27% 8,178 7,061 16% 27% 15,681 13,352 17% 27%
---------- ------- ------- ---- ------- ------- ------- ----- ----- -------- ------- ---- -----
GBP'000s 4m to 31 December 10m to 31 December
---------- --------------------------------- --------------------------------
FY17 FY16 yoy yoy FY17 FY16 yoy yoy
% % CER % %
CER
---------- -------- ------- ----- ------- -------- -------- ----- -----
Total 114,294 73,692 55% 52% 241,610 164,476 47% 46%
---------- -------- ------- ----- ------- -------- -------- ----- -----
Sales by region
--------------------------------------------- -------- -------- ----- -----
UK 65,015 49,701 31% 31% 146,711 108,829 35% 35%
---------- -------- ------- ----- ------- -------- -------- ----- -----
ROE 13,963 8,588 63% 54% 28,676 18,991 51% 47%
---------- -------- ------- ----- ------- -------- -------- ----- -----
USA 19,649 5,962 230% 188% 34,875 13,864 152% 130%
---------- -------- ------- ----- ------- -------- -------- ----- -----
ROW 15,667 9,441 66% 57% 31,348 22,792 38% 40%
---------- -------- ------- ----- ------- -------- -------- ----- -----
Revenue by period for the year to 29 February 2016
GBP'000s 3m to 31 May 3m to 31 August 6m to 31 August
---------- -------------------------------- ------------------------------ ------------------------------
FY16 FY15 yoy yoy FY16 FY15 yoy yoy FY16 FY15 yoy yoy
% % CER % % % %
CER CER
---------- ------- ------- ----- ------- ------- ------- ----- ----- ------- ------- ----- -----
Total 41,322 30,659 35% 37% 49,462 36,538 35% 40% 90,784 67,197 35% 39%
---------- ------- ------- ----- ------- ------- ------- ----- ----- ------- ------- ----- -----
Sales by region
-------------------------------------------- ------- ------- ----- ----- ------- -----
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%
---------- ------- ------- ----- ------- ------- ------- ----- ----- ------- ------- ----- -----
USA 3,815 1,485 157% 143% 4,086 1,382 196% 181% 7,901 2,867 176% 161%
---------- ------- ------- ----- ------- ------- ------- ----- ----- ------- ------- ----- -----
ROW 6,291 4,597 37% 48% 7,061 5,409 31% 55% 13,352 10,006 33% 52%
---------- ------- ------- ----- ------- ------- ------- ----- ----- ------- ------- ----- -----
GBP'000s 4m to 31 December 2m to 29 February 12m to 29 February
---------- -------------------------------- ----------------------------- --------------------------------
FY16 FY15 yoy yoy FY16 FY15 yoy yoy FY16 FY15 yoy yoy
% % CER % % % %
CER CER
---------- ------- ------- ----- ------- ------- ------- ---- ----- -------- -------- ----- -----
Total 73,692 50,793 45% 49% 30,918 21,861 41% 40% 195,394 139,851 40% 42%
---------- ------- ------- ----- ------- ------- ------- ---- ----- -------- -------- ----- -----
Sales by region
-------------------------------------------- ------- ------- ---- ----- -------- -----
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%
---------- ------- ------- ----- ------- ------- ------- ---- ----- -------- -------- ----- -----
USA 5,962 2,639 126% 116% 2,659 1,504 77% 63% 16,523 7,009 136% 123%
---------- ------- ------- ----- ------- ------- ------- ---- ----- -------- -------- ----- -----
ROW 9,441 7,511 26% 41% 3,353 2,895 16% 17% 26,145 20,414 28% 42%
---------- ------- ------- ----- ------- ------- ------- ---- ----- -------- -------- ----- -----
CER in this appendix for the year ended 29 February 2016 is
calculated using exchange rates prevailing during the year ending
29 February 2016.
Nomenclature: ROE - rest of Europe; ROW - rest of world; yoy -
year-on-year; CER - constant exchange rate
This announcement has been determined to contain inside
information.
Cautionary Statement
Certain statements included or incorporated by reference within
this announcement may constitute "forward-looking statements" in
respect of the group's operations, performance, prospects and/or
financial condition. Forward-looking statements are sometimes, but
not always, identified by their use of a date in the future or such
words and words of similar meaning as "anticipates", "aims", "due",
"could", "may", "will", "should", "expects", "believes", "intends",
"plans", "potential", "targets", "goal" or "estimates". By their
nature, forward-looking statements involve a number of risks,
uncertainties and assumptions and actual results or events may
differ materially from those expressed or implied by those
statements. Accordingly, no assurance can be given that any
particular expectation will be met and reliance should not be
placed on any forward-looking statement. Additionally,
forward-looking statements regarding past trends or activities
should not be taken as a representation that such trends or
activities will continue in the future. No responsibility or
obligation is accepted to update or revise any forward-looking
statement resulting from new information, future events or
otherwise. Nothing in this announcement should be construed as a
profit forecast. This announcement does not constitute or form part
of any offer or invitation to sell, or any solicitation of any
offer to purchase any shares or other securities in the Company,
nor shall it or any part of it or the fact of its distribution form
the basis of, or be relied on in connection with, any contract or
commitment or investment decisions relating thereto, nor does it
constitute a recommendation regarding the shares or other
securities of the Company. Past performance cannot be relied upon
as a guide to future performance and persons needing advice should
consult an independent financial adviser. Statements in this
announcement reflect the knowledge and information available at the
time of its preparation. Liability arising from anything in this
announcement shall be governed by English law. Nothing in this
announcement shall exclude any liability under applicable laws that
cannot be excluded in accordance with such laws.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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