5th Jun 2014 15:00
LONDON (Alliance News) - boohoo.com PLC Thursday said it is continuing to trade in line with expectations for the full-year, as it responded to weakness in its share price caused by a weak statement from rival ASOS PLC.
The online retailer's shares were Thursday quoted at 43.75 pence, down 11.6%. The company only listed through an initial public offering on AIM on March 14. That was the biggest IPO on AIM so far in 2014.
Rival online fashion retailer ASOS, by far the biggest stock on AIM by market capitalisation, earlier Thursday lowered its profit guidance for the current financial year and next year, after saying it was hit by heavy discounting, as well as the strength of sterling which took a big chunk out of its international business.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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