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

Executive Summary

• British online fashion retailer Boohoo.com 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.
• Boohoo.com raised its revenue guidance for the fifth time this year. The company now expects FY17 revenue growth of 43%–45% versus 38%–42% previously.