Boohoo raises guidance for 6th time, saying it expects revenue growth to be around 50%

Companies: boohoo group Plc


 

Online fast-fashion retailer Boohoo.com has raised its full-year guidance to 50% profit growth (from 46-48%), in its 6th guidance raise of a truly incredible year. 

 

In a pre-close trading update, the Manchester-based retailer said it had delivered strong trading performance since the Groups' last trading update on 10 January, and now expected Group revenue growth for the twelve months to 28 February to be around 50%, up from 46-48% previously expected.

 

The Group said it was benefitting from improved operating leverage in the business and as a result now expected to deliver an adj EBITDA margin at the top end of the previously guided range of 11% to 12%.

 

This guidance relates to boohoo.com and prettylittlething.com, which has been consolidated from 3 January 2017.

Shares in Boohoo jumped 2% as the market opened but fell slightly afterwards. The stock is continuing to push into new territory value wise, with its market cap now at £1.66bn. It's trading at a forward P/E of 74 and is forecasting pre-tax profit of £28.43.

 


The information contained within this post is based on personal experience and opinion and should not be considered as a recommendation to trade nor financial advice.