TIDMBOO
RNS Number : 0615N
boohoo group plc
15 January 2019
For immediate release 15 January 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 - trading statement for the four months ended
31 December 2018
Strong growth across all brands in all regions
Four months to 31 December Ten months to 31 December
GBP million FY19 FY18 Increase CER(1) FY19 FY18 Increase CER(1)
------ ------------ ----------- -------- ----------- ------------ ---------- ---------
Group total
revenue 328.2 228.2 44% 43% 723.5 491.1 47% 46%
------ ------------ ----------- -------- ----------- ------------ ---------- ---------
Revenue by
region
UK 180.0 135.7 33% 33% 414.0 299.0 38% 38%
ROE(2) 44.4 28.2 57% 54% 95.7 56.0 71% 63%
USA 70.4 39.6 78% 80% 138.6 79.2 75% 77%
ROW(3) 33.4 24.7 35% 32% 75.2 56.9 32% 29%
------ ------------ ----------- -------- ----------- ------------ ---------- ---------
(1): CER designates Constant Exchange Rate translation of
foreign currency revenue. (2) ROE is rest of Europe. (3) ROW is
rest of world.
Highlights
Group
-- Strong revenue growth of 44% (43% CER) across all geographic regions
-- Gross margin for the four months 54.2%, up 170bps
-- Strong balance sheet with net cash of GBP189 million (31 December 2017: GBP127 million)
boohoo
-- Revenue GBP163.5 million, up 15% (14% CER). Year-to-date
revenue GBP372.5 million, up 15% (13% CER)
-- Gross margin for the four months 52.2%, up 150bps
PrettyLittleThing
-- Revenue GBP144.2 million, up 95% (96% CER). Year-to-date
revenue GBP312.8 million, up 114% (115% CER)
-- Gross margin for the four months 56.4%, up 110bps
Nasty Gal
-- Revenue GBP20.6 million, up 74% (76% CER). Year-to-date
revenue GBP38.3 million, up 89% (93% CER)
-- Gross margin for the four months 54.4% (2018: 55.3%)
Guidance
Group revenue growth for the financial year to 28 February 2019
is expected to be 43% to 45%, ahead of our previous guidance of 38%
to 43%. We expect group adjusted EBITDA margins to be between 9.25%
and 9.75%, narrowing the range from the 9% to 10% as previously
guided. All other guidance remains unchanged.
Mahmud Kamani and Carol Kane, Joint CEOs, commented:
"We are delighted to be reporting yet another great set of
financial and operational results and would like to say a very big
thank you to all our team and customers. We remain firmly focused
on continuing to provide our customers with great fashion at
unbeatable value. The global growth opportunity is significant and
we will be addressing it in a controlled way - investing in our
proposition, operations and infrastructure to capitalise on the
opportunity."
Investor and analyst conference call
boohoo group plc will today host a conference call for analysts
and investors at 9.30am (UK time). The dial in details for the call
are as follows:
UK Toll Number: +44 3333000804
UK Toll-Free
Number: 08003589473
Participant pin
code: 73664912#
For international access numbers, please click here.
Notice of results
boohoo group plc expects to report its results for the 12 months
to 28 February 2019 on 24 April 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 Tel: +44 (0)161 831 1512
Finance)
John Goold/Benjamin Robertson (Corporate Tel: +44 (0)20 3829 5000
Broking)
Jefferies Hoare Govett - Joint broker
Nick Adams/Max Jones Tel: +44 (0)20 7029 8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth/Sophie Wills Tel: +44 (0)20 7466 5000
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, the group started life as
boohoo.com, an inclusive and innovative brand targeting young,
value-orientated customers. For over 12 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. 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 for 16 to 30-year-olds around the world. Today the boohoo
group sells to over 11 million customer accounts across all its
brands around the world.
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.
Appendix - prior period revenues by region
Revenue by period for the ten months to 31 December 2018
(FY19)
GBP'000 4m to 31 December 10m to 31 December
--------------------------------- -------------------------------
FY19 FY18 yoy yoy FY19 FY18 yoy yoy
% % CER % %
CER
-------- -------- ---- ------- -------- -------- ---- -----
Total 328,231 228,215 44% 43% 723,542 491,090 47% 46%
-------- -------- ---- ------- -------- -------- ---- -----
Revenue by region
-------------------------------------------- -------- -------- ---- -----
UK 179,952 135,642 33% 33% 414,009 299,022 38% 38%
-------- -------- ---- ------- -------- -------- ---- -----
ROE 44,431 28,232 57% 54% 95,682 56,023 71% 63%
-------- -------- ---- ------- -------- -------- ---- -----
USA 70,427 39,618 78% 80% 138,598 79,214 75% 77%
-------- -------- ---- ------- -------- -------- ---- -----
ROW 33,421 24,723 35% 32% 75,252 56,830 32% 29%
-------- -------- ---- ------- -------- -------- ---- -----
GBP'000 3m to 31 May 3m to 31 August 6m to 31 August
--------------------------------- -------------------------------
FY19 FY18 yoy yoy FY19 FY18 yoy yoy FY19 FY18 yoy yoy
% % CER % % % %
CER CER
-------- -------- ---- ------- -------- -------- ---- ----- -------- -------- ---- -----
Total 183,561 120,077 53% 52% 211,748 142,798 48% 47% 395,309 262,875 50% 49%
-------- -------- ---- ------- -------- -------- ---- ----- -------- -------- ---- -----
Revenue by region
-------------------------------------------- -------- -------- ---- ----- -------- -----
UK 110,738 74,532 49% 49% 123,319 88,849 39% 39% 234,057 163,381 43% 43%
-------- -------- ---- ------- -------- -------- ---- ----- -------- -----
ROE 22,257 12,220 82% 71% 28,993 15,571 86% 73% 51,250 27,791 84% 72%
-------- -------- ---- ------- -------- -------- ---- ----- -------- -------- ---- -----
USA 31,389 17,906 75% 78% 36,782 21,690 70% 71% 68,171 39,596 72% 74%
-------- -------- ---- ------- -------- -------- ---- ----- -------- -------- ---- -----
ROW 19,177 15,419 24% 22% 22,654 16,688 36% 31% 41,831 32,107 30% 27%
-------- -------- ---- ------- -------- -------- ---- ----- -------- -------- ---- -----
Revenue by period for the year to 28 February 2018 (FY18)
GBP'000 4m to 31 December 2m to 28 February 12m to 28 February
---------------------------------- ------------------------------
FY18 FY17 yoy yoy FY18 FY17 yoy yoy FY18 FY17 yoy yoy
% % CER % % % %
CER CER
-------- -------- ----- ------- ------- ------- ----- ----- -------- -------- ----- -----
Total 228,215 114,294 100% 93% 88,710 53,025 67% 65% 579,800 294,635 97% 92%
-------- -------- ----- ------- ------- ------- ----- ----- -------- -------- ----- -----
Revenue by region
--------------------------------------------- ------- ------- ----- ----- -------- -----
UK 135,642 65,465 107% 107% 56,592 34,820 63% 63% 355,614 181,981 95% 95%
-------- -------- ----- ------- ------- ------- ----- ----- -------- -----
ROE 28,232 13,963 102% 76% 10,258 6,059 69% 54% 66,281 34,735 91% 73%
-------- -------- ----- ------- ------- ------- ----- ----- -------- -------- ----- -----
USA 39,618 19,299 105% 102% 13,475 5,910 128% 133% 92,690 40,435 129% 122%
-------- -------- ----- ------- ------- ------- ----- ----- -------- -------- ----- -----
ROW 24,723 15,567 59% 46% 8,385 6,236 34% 29% 65,215 37,484 74% 64%
-------- -------- ----- ------- ------- ------- ----- ----- -------- -------- ----- -----
GBP'000 3m to 31 May 3m to 31 August 6m to 31 August
--------------------------------- -------------------------------
FY18 FY17 yoy yoy FY18 FY17 yoy yoy FY18 FY17 yoy yoy
% % CER % % % %
CER CER
-------- ------- ----- ------- -------- ------- ----- ----- -------- -------- ----- -----
Total 120,077 58,222 106% 98% 142,798 69,094 107% 104% 262,875 127,316 106% 101%
-------- ------- ----- ------- -------- ------- ----- ----- -------- -------- ----- -----
Revenue by region
-------------------------------------------- -------- ------- ----- ----- -------- -----
UK 74,532 37,396 99% 99% 88,849 44,300 101% 101% 163,381 81,696 100% 100%
-------- ------- ----- ------- -------- ------- ----- ----- -------- -----
ROE 12,220 6,938 76% 61% 15,571 7,775 100% 92% 27,791 14,713 89% 77%
-------- ------- ----- ------- -------- ------- ----- ----- -------- -------- ----- -----
USA 17,906 6,385 180% 155% 21,690 8,841 145% 136% 39,596 15,226 160% 145%
-------- ------- ----- ------- -------- ------- ----- ----- -------- -------- ----- -----
ROW 15,419 7,503 105% 80% 16,688 8,178 104% 98% 32,107 15,681 105% 89%
-------- ------- ----- ------- -------- ------- ----- ----- -------- -------- ----- -----
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END
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