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Boohoo Group (LSE: BOO) 1Q20 Update: Beats on Revenue, Maintains FY20 Outlook

Executive Summary

  • Boohoo Group reported 1Q20 total sales of £254.3 million, up 39% year over year at constant exchange rates and as reported, and beating the consensus estimate of £253.7 million recorded by StreetAccount.
  • The group’s gross margin marginally contracted 20 basis points to 55.0%.
  • For FY20, the Group maintained its previous guidance of revenue growth in the range of 25% to 30% and an adjusted EBITDA margin of around 10%.

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