12th Jan 2016 08:29
LONDON (Alliance News) - Boohoo.com PLC on Tuesday reported growth in total sales in the four months to end-December driven by investments in price and the customer proposition, and said it now expects revenue growth for the full year to beat guidance.
The online fashion retailer said total sales in the fourth months to December 31 grew 45% to GBP73.7 million from GBP50.8 million in the same period the year before, rising 39% in the ten months to the same date to GBP164.5 million from GBP118 million.
Regionally, revenue in the UK rose 45% in the four months and 36% in the 10 months, revenue in the rest of Europe grew 33% in the four months and 25% in the 10 months, while revenue in the rest of world increased 52% in the four months and 59% in the 10 months.
However, retail gross margin fell by 290 basis points in the four months due to planned investments in price and customer proposition.
Boohoo said the number of active customers rose 33% in the four months to 3.9 million.
"We remain confident of trading in the remaining two months of the financial year and now expect revenue growth for the full year to be marginally above previous guidance of 30% to 35%. We are trading in line with current market expectations for earnings before interest, tax, depreciation and amortisation as we continue to invest in driving growth and building market share across our key markets," Joint Chief Executives Mahmud Kamani and Carol Kane said in a statement.
Shares in boohoo.com were trading up 5.6% at 38.55 pence early Tuesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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