For Immediate Release
7 March 2014

boohoo.com plc
("boohoo" or the "Company")

Announcement of Placing details and Admission to AIM

Successful Placing to raise £300 million
Market capitalisation of £560 million at Placing Price
Trading starts 14 March 2014 on AIM

boohoo, one of the UK's largest pure-play online, own brand fashion retailers, today announces the successful pricing of its initial public offering ("the IPO") and the placing ("the Placing") of 600 million ordinary shares at 50p per share. It is expected that dealings will commence on AIM at 8.00 a.m. on 14 March 2014.

The Company designs, sources, markets and sells the latest on-trend fashions through the www.boohoo.com website to a core market of 16-24 year old consumers. boohoo is a well-established brand in the UK, Ireland and Australia and currently sells its products into over 100 countries.

boohoo is raising gross proceeds of approximately £300 million, £50 million of which will be used to accelerate its expansion and enhance its working capital base. A proportion of the money raised will be used as part of a multi-stage development plan to grow the Company's distribution facilities and repay the outstanding mortgage on its Burnley warehouse, in addition to funding the infrastructure and IT systems to support future international growth. Approximately £240 million will be used to repay the Convertible Loan notes held by the Company's existing shareholders. Following Admission the Board and the Kamani family will hold approximately 44% of the Company's enlarged share capital. On Admission, the Company is expected to have net cash of approximately £50 million.

The Company is expected to join AIM on 14 March 2014 with a market capitalisation at the Placing Price of approximately £560 million.

The Ordinary Shares will trade under the ticker "BOO" and the ISIN number is: JE00BG6L7297. Zeus Capital is acting as NOMAD and Sole Broker to the Company.

Company highlights

· A strong brand identity and competitive position
o Founded in 2006, boohoo has grown rapidly, developing a brand identity and an international online proposition, and now has over 2.3 million active customers, with approximately 140,000 new customers registering on the website per month
o High fashion, high quality and low price products
o Limited number of direct competitors, focused on a similar age group and price point

· Agile supply chain facilitated by a unique 'Trial and Repeat' model
o Trends transferred from catwalk to closet in as little as six weeks
o Low stock cover of just seven to eight weeks

· A successful track record of revenue generation and profit growth
o For the ten months to December 2013, sales increased by 70% to £91.9m and adjusted EBITDA grew 188% to £10.1m (versus £54.1m and £3.5m respectively for the same period in the prior year)
o Exclusively own brand offering, generating gross margins of over 60 per cent

· A highly experienced management team
o Founded by Joint Chief Executives, Mahmud Kamani and Carol Kane, who together have a long history of supplying fashionable clothing, accessories and shoes to high street retailers

· Demonstrated international growth
o Currently operates an English language website for all sales in the UK and globally and a local French language website launched in October 2013
o 37% of sales were international for the ten months to December 2013, growing from £18m to £34m

· A compelling growth market
o The global apparel retail market has grown at an average annual growth rate of 2.8% per annum since 2008 and is expected to be worth £987 billion by 2017. Online retail sales are forecast to take 23.5% of total fashion retail sales by 2016 in the UK
o Expansion of the current product range, will allow boohoo to broaden its appeal, supported by engagement through interactive content and marketing
o The Directors believe that boohoo's exciting growth prospects are underpinned by forecast growth in both the domestic and international online fashion retail markets, the Company's highly efficient sourcing model and a robust infrastructure development plan

Commenting on the announcement, Mahmud Kamani, Joint Chief Executive of boohoo, said:

"We are delighted to announce that our initial public offering has been successful. The placing and Admission to AIM marks a significant step for boohoo as we invest in this exciting growth opportunity underpinned by the rapidly growing online retail market.

We would like to welcome our new shareholders to the Company and look forward to continuing to develop our business providing market leading customer service for on-trend, value led fashion clothing and accessories as a publicly quoted company."

Carol Kane, Joint Chief Executive of boohoo, said:

"boohoo is a lifestyle driven, online destination and the 'go to' for the latest fashion trends at affordable prices. We are confident that our competitive position and growing customer base means that we are well placed to capitalise on the fast growing online fashion retail market. Our success to date, coupled with our exciting expansion plans, makes this an ideal time to bring the Company to AIM."




Enquiries:

boohoo.com plc
Mahmud Kamani, Joint Chief Executive
Carol Kane, Joint Chief Executive
Neil Catto, Chief Financial Officer

c/o Buchanan +44 (0)20 7466 5000
Buchanan - Financial PR adviser
Richard Oldworth
Helen Chan
Gabriella Clinkard

Lengthy note from Shore Capital:
"Positive momentum continues for fast-fashion online retailer Boohoo, which today (9th August 2016) provided a surprise update on current trading in the business. The performance of the company during the first five months of the financial year has been sufficiently strong enough for management to upgrade guidance for both revenue and EBITDA.
Summer sales strong Boohoo now expects to deliver FY2017 sales ahead of current market expectations, with management now guiding to a sales growth range of between 28% and 33% (prior guidance range: between 25% and 30%). Following today’s statement and a call with management, we have sufficient confidence to upgrade our expectations for the current financial year. We have bumped up our revenue estimate for FY2017 from £251.5m (growth rate: 28.7%) to £257.1m (31.6%).
Strong at home and overseas - During Q2, sell-through of stock has been strong and we believe sales growth continues to be healthy across all three segments; UK, Europe and Rest of the World. Amongst this, performance has been robust in all of Boohoo’s key markets, where it has been able to leverage marketing investment more effectively through the Spring/Summer season. We anticipate that the company may reinvest some of the incremental earnings (from the first half) in the proposition to continue to maintain top-line strength in the second half. Price, product and delivery are key proposition drivers Domestically, Boohoo continues to reap the benefit of delivery promotions, whilst price promotions are less seasonal and lumpy, helping to support margin consistency. Further afield, the company is more content with the base prices set overseas, although the frequency of price promotions has been increased in foreign markets. Whilst the company does not anticipate using currency as a core driver of sales growth following the recent post UK/EU Referndum devaluation of sterling, currency movements do present an opportunity to ramp up such promotional activity to drive incremental sales. Boohoo has also seen a continuation of higher average order values from Q1 FY2017, with investment in the mobile proposition helping to provide uplift in conversion rates.
Margin expansion At the start of the year, management guided towards a flat EBITDA margin (9.6%), but with the business having achieved improved operating leverage, we now expect a stronger EBITDA margin for FY2017. We now expect a margin expansion of c70bps during FY2017. Having upgraded our FY2017 adjusted EBITDA forecast to £26.6m, this represents an increase of c11% in profit from our prior forecast. Whilst traditionally we always look at earnings multiples such as PER and EV/EBITDA, EV/sales is now a core component of our valuation analysis for pure-play online growth businesses. Boohoo currently trades on a FY2017F PER of 48.8x and a FY2017F EV/EBITDA ratio of 31.9x. We believe this premium to the online peer group sector average is reflective of the fact that Boohoo is a more immature company, and is at an earlier stage of the business lifecycle. We derive an intrinsic value of the stock of 92p, based on our revised forecasts; this would place the company’s shares on 3.0x FY2018F sales.
We believe there is further upside on this valuation when we factor in the option to buy PrettyLittleThing, which we previously valued at 4p per share (based on an EV/historic sales multiple) to shareholders. Whilst we do not have great visibility on current trading in that particular business, we believe its growth rate remains above the core Boohoo business, with a recent successful launch in the US last month. Investors can be enthused that Boohoo has demonstrated an ability to accelerate both revenue and earnings simultaneously during the period as well as about the cash-generative business model as a whole. We continue to be bullish about the company’s future prospects and we retain a BUY stance on the company."

Think we got a quid coming very soon. Yeeeeha aa.

Broker forecasts 110-120p that'll do me........ for now........ 99p this morning.

i keep chickening out of buying in as i see the level going north
i was in/out somewhere around 35/40 but haven't dared buy again :-)

however, i have certainly taken a shine to this one in recent months for reasons posted previously

cynic ,i sold ASOS at about 60p for a tiny profit :(

Stupid boy.......... jb. Lol

You can say that again .

Broker Exane 130p :)

Took a bit of profit after results as thought it would come back a bit.......... BUT no , now 120p. What is happening.

glad i bought some (at last) a couple of days ago

old mutual now holds >13%
dare say today's drop just means they've stopped buying

It needs a rest and allows me to top up. Then let's hope the Xmas rush takes it past £2.......

Peel Hunt today reaffirms its buy investment rating on Boohoo.com Plc (LON:BOO) and raised its price target to 140p (from 120p).

Boohoo ups outlook guidance yet again

Boohoo.com Plc upgrades guidance and announces acquisition of forward-thinking fashion brand Prettylittlething (PLT)
Boohoo continues to benefit from improved operating leverage in business
Now expects boohoo.com to deliver revenue growth of between 38 pct and 42 pct in FY17
Anticipates boohoo delivering an EBITDA margin of between 11 pct and 12 pct in FY17, against previous guidance of around 11 pct

Boohoo group will acquire 66 pct of issued share capital of PLT for a cash consideration of 3.3 mln stg 1
Boohoo group will benefit from acquisition of 21 Three Clothing Co Ltd, which is expected to be consolidated from Jan. 3, 2017

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pretty much doubled up sipp holding - was very small and now medium - as i had some spare funds sitting there

i think this one is too difficult to use as a trading stock

Me thinks sour grapes cynic........ money in the bank. Was just ready to top up this am whilst at 113p but news beat me to it. Am quite happy with what I hold. Bring on after Xmas sales news..

sour grapes from me????
surely you don't mean that, as i'm more than happy, for else i wouldn't have topped up .... in fact, even the new position is now (just) in the money

Wooley this year cyners?

N+1 Singer today downgrades its investment rating on Boohoo.com Plc (LON:BOO) to hold (from buy) and raised its price target to 135p (from 110p).

of course BB
this is the alternate year when all the family comes too

Nice one cynic. Should be good walking weather this year.