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

Great result. .....onwards and upwards.

Peel Hunt Buy 183.50 180.00 220.00 Reiterates

Liberum Capital Hold 183.50 185.00 185.00 Retains

Shore Capital Buy 183.50 - - Reiterates

Shore Capital comment:
"Boohoo delivered a year of impressive growth with revenue growing 51% to £294.6m (consensus: £289.8m), in-line with our own expectations. Adjusted EBITDA came in at £35.6m (consensus: £34.5m), a margin of 12.1%, accretion of c240bps on the prior year. EPS increased by 97% to 2.19p (consensus: 2.09p).

Organic boohoo growth during FY2017 was 45%, with PrettyLittleThing contributing £11.2m of revenue following consolidation in January of this year (for the year to 28th February 2017, PLT delivered revenue of £55.3m). Growth in the core boohoo brand was broad-based, with UK growth at 33% and triple digit growth in the US. Its core customer continues to shift away from desktop towards a mobile-centric market, with 70% of sales coming through the latter medium. Whilst the group invested some c320 basis points in its gross margin, falling to 54.6%, leverage came through marketing spend.

Looking ahead to FY2018, the outlook continues to be strong with management is guiding towards 50% topline growth, this consists of the following brand segment growth rates:

25% sales growth for the core boohoo brand 35% growth for PLT Nasty Gal revenue to be c£12m for the year

Within our current expectations we are forecasting revenue growth of 47% for the group, however this does not account for Nasty Gal revenue (which we will include in our forecasts shortly). The three brands of the Group will operate independently and from an operational viewpoint, we look to see how the multi-brand proposition evolves (we believe management is minded to make brand acquisitions in the future). Capex guidance for the year is expected to be £34m.

We believe the financial performance from FY2017 is demonstrative of the growth credentials of the Boohoo group, which still have further levers to pull. Current FY2018 consensus for revenue, adjusted EBITDA and EPS is £423.1m, £42.6m and 2.51p respectively. The indicative valuation multiples of 76.9x PER and 50.5x EV/EBITDA are clearly highlight the premium rating the company trades on but also the confidence investors have in the growth opportunity at hand. We share this confidence and believe the Boohoo group has strong earnings momentum, operating a well-executed business model in an attractive sub-sector of the consumer industry. We reiterate our BUY recommendation on the stock."

I think that's EPIC.

Citigroup today reaffirms its neutral investment rating on Boohoo.com Plc (LON:BOO) and raised its price target to 200p (from 145p).

191p this morning. I can feel 200p coming in my pants. ...... 🙄

I'm tempted to comment on your last post Bb, but modesty prevents me from making the obvious remark! ;o)
Am still holding my BOO stock so nicely in the money and see no reason at the mo to lock in profit. Lets hope for more of the same!

Balerboy

What can I say !!!!!!!!!

It has. Surely you haven't.

:o)

Lol. 199.50p as we speak........ got to be a. .....
Yeehhhhhaaa moment.

Think I just wet myself. ........

Balerboy

Dont look at the screen

;o)

I now need to change my pants......😀

You can afford to buy some new ones from BoohooMan now!

Not much of a selection, but cheap as chips!
http://www.boohooman.com/5-pack-plain-white-trunks/MZZ72679.html?color=173

Half price !!!!

Suits you Sir.

The shares are still pretty good value too IMO.

One of my best researched shares buying in at 61p last year, plenty to run on this story and happy to hold for my 350p minimum target, could have my windfall plan earlier than expected at this rate

224p. Bb must have bought a whole truck load of BOO underwear!

Wish I had topped up at 183p but not complaining.

RSI looks very over bought.

Mind you, I thought that when FEVR was @£10 - Ho Hum!

They sneaked out the trading update this afternoon at 4.35pm :

Highlights for the three months ended 31 May 2017

Group

-- Revenue GBP120.1 million, up 106% (2016: GBP58.2 million)
-- Like-for-like(1) revenue growth of 78%
-- Gross margin 54.2 % (2016: 56%)
-- Strong balance sheet with net cash of GBP74 million (2016: GBP61 million)

boohoo

-- Revenue GBP86.4 million, up 48% (44% CER(2) )

o UK up 41%, rest of Europe up 44% (33% CER), USA up 97% (83% CER), rest of world up 50% (34% CER)

-- Gross margin 53.9%, down 230 bps, driven by planned investments in the customer proposition (retail gross margin 56.3% (2016: 57.6%))

-- 5.2 million active customers(3) , up 24% on prior year

PrettyLittleThing

-- Revenue GBP30.7 million (2016: like-for-like(4) GBP7.6 million, up 305%)
-- Gross margin 53.8% (2016: like-for-like(4) 57.3%)
-- 1.6 million active customers, up 146% on prior year

Nasty Gal

-- Revenue GBP2.9 million
-- Gross margin 69.9%


Pretty spectacular figures plus a placing to raise £50 million to fund expansion.

There is plenty of mileage left.

placing are infuriating
though i recognise they are far cheaper for the company, it gives the PIs no chance at all to participate and surely that is not fair