Updates

Boohoo

October 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

When Boohoo last reported, the consensus for FY23 was revenue growth of c.1% but there has been a sharp drop in activity since the summer. Q1 sales fell 8% against a very tough +32% comp but Q2 sales unexpectedly fell more, against a much easier 9% comp, despite warm weather and a return to holidays and events. Overall H1 sales were -10% to £882m and EBITDA was £35.5m.The picture is not Boohoo specific - the whole sector has been hammered by cost of living pressures and other external factors such as freight and logistic inflation (gross margin -2.1% to 52.5%). In Boohoo’s case, gross sales (before returns) grew 4% and there was an underlying improvement in average order frequency/spend and the Debenhams digital store continuing to ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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