Boohoo announced that it’s trading ahead of its prior expectations, helped by continued momentum at Debenhams and an improved performance at its Youth Brands. All brands are trading profitably.
PrettyLittleThing had previously been earmarked for disposal. But recent turnaround efforts have driven a “material improvement in profitability”, and Boohoo has decided to retain the brand.
With just a month left in its financial year, full-year underlying cash profit (EBITDA) guidance has been upgraded by £5mn to £50mn.
The shares rose 6.6% in early trading.
Our view
HL view to follow.
Boohoo key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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