Boohoo’s statement highlighted a competitive and challenging UK market, resulting in slower-than-anticipated sales growth. International saw an encouraging rebound in ROW, reflecting benefits from price reinvestment, with Europe delivering mixed results. Lower sales growth… led us to cut our forecasts materially.
MATTHEW MCEACHRAN | N+1 SINGER
Boohoo has delivered 25 per cent sales growth so far in the second half… On revised guidance, we expect forecasts to reduce by around 25-30 per cent for the full year, which is very disappointing… Shares will correct accordingly, although the rating had visibly fallen already on nervousness ahead of the update.
JOHN STEVENSON | PEEL HUNT
Boohoo posted a significant profit warning, with sales to miss full-year expectations by around 10 per cent. The weak apparel market and high levels of discounting on the high street has hit traffic, with strong and improving conversion suggesting no issue regarding offer or price. We downgrade 2015 profits by 25 per cent.