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Boohoo Group (LSE: BOO) 3Q17 Results: Raises Sales Guidance for Fifth Time

Executive Summary

  • British online fashion retailer reported a 52% year-over-year increase in revenues on a constant currency basis. This was ahead of consensus expectations. Strong sales were driven by a broader product range offering, growth across all geographic regions and particularly robust momentum in the US.
  • The 3Q17 retail gross margin declined by 260 basis points year over year, to 54.4%, due to planned investment in price and promotions.
  • raised its revenue guidance for the fifth time this year. The company now expects FY17 revenue growth of 43%–45% versus 38%–42% previously.

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