Edition:
India

Boozt Q3 EBIT Loss Widens To SEK 40.8 Mln


Thursday, 14 Nov 2019 

Nov 14 (Reuters) - Boozt AB ::Q3 NET REVENUE SEK 764.1 MILLION VERSUS SEK 625.0 MILLION YEAR AGO.Q3 EBIT LOSS SEK 40.8 MILLION VERSUS LOSS SEK 28.8 MILLION YEAR AGO.SOFTENING OF APPAREL MARKET, ESPECIALLY IN SWEDEN AND DENMARK, INCREASED OVER SUMMER WHICH IS REFLECTED IN 19% GROWTH OF BOOZT.COM IN QUARTER.BOOZTLET.COM CONTINUED STRONG TRAJECTORY WITH A 90% GROWTH IN QUARTER.AFTER A DECLINING GROSS MARGIN TREND OVER LAST COUPLE OF SEASONS, WE HAVE WITNESSED A SLIGHTLY INCREASING GROSS MARGIN IN BEGINNING OF CURRENT AUTUMN/WINTER SEASON COMPARED TO LAST YEAR.ADJUST OUR FULL YEAR OUTLOOK ON NET REVENUE GROWTH FROM PREVIOUSLY ABOVE 27% TO NOW BETWEEN 23% AND 26%.FY OUTLOOK FOR ADJUSTED EBIT MARGIN IS UPGRADED FROM PREVIOUSLY ABOVE 2.3% TO NOW ABOVE 2.5% DUE TO OPERATIONAL IMPROVEMENTS.WE ARE ENTERING MORE CAUTIOUSLY INTO Q4 DUE TO SOFTER APPAREL MARKETS IN DENMARK AND SWEDEN. 

Company Quote

38.25
-1.35 -3.41%
3 Apr 2020