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Boohoo raises full year sales outlook after strong holiday season

By Prachi Singh

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For the four months to December 31, 2018, Boohoo Group Plc has reported revenue growth of 44 percent or 43 percent CER across all geographic regions. The company said, gross margin for the four months was 54.2 percent, up 170bps. For the financial year to February 28, 2019, the company expects revenue growth between 43 percent to 45 percent, ahead of its previous guidance of 38 percent to 43 percent, while group adjusted EBITDA margins are expected to be between 9.25 percent and 9.75 percent, narrowing the range from the 9 percent to 10 percent as previously guided.

Commenting on the update, Mahmud Kamani and Carol Kane, the company’s joint CEOs, said in a statement: "We are delighted to be reporting yet another great set of financial and operational results. 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."

Boohoo revenue of 163.5 million pounds (210.7 million dollars) for the quarter, was up 15 percent or 14 percent CER, while gross margin for the four months was 52.2 percent, up 150bps. Boohoo’s year-to-date revenue of 372.5 million pounds (480 million dollars), rose 15 percent or 13 percent CER.

Revenues at PrettyLittleThing of 144.2 million pounds (185.8 million dollars), jumped 95 percent or 96 percent CER, while gross margin for the four months of 56.4 percent, was up 110bps. Year-to-date revenue at PrettyLittleThing of 312.8 million pounds (403 million dollars), were up 114 percent or 115 percent CER.

Nasty Gal reported revenue of 20.6 million pounds (26.5 million dollars), up 74 percent or 76 percent CER and gross margin at 54.4 percent compared to 55.3 percent in the same quarter in 2018. Year-to-date revenue at Nasty Gal of 38.3 million pounds (49.3 million dollars), rose 89 percent or 93 percent CER.

Picture credit:Boohoo media gallery

Boohoo
Nasty Gal
PrettyLittleThing