Boozt: Hits record high after FY outlook upgrade
07/10/2020 08:35
(Updates to add share move, CEO comment and milestone)
** Shares in Boozt BOOZT.ST surge 8% as the Swedish online
retailer ups its full-year profit margin guidance on the back of
stronger than expected Q3 urn:newsml:reuters.com:*:nL8N2GY0I3
** The company lifts FY adjusted EBIT margin forecast to
4.5-5.5% after Q3 net revenue growth is expected to come in the
middle of the 20-25% range with adjusted EBIT margin of 5-6%
** "Making a solid profit in this quarter for the first
time, is another testament to the profitability potential of our
business model," CEO says
** The company says better than expected development in Q3
was driven by a good start to the autumn/winter season and
improved gross margin
** Boozt stock is on track for its best day in 3 months and
reaches the highest level since listing in 2017
** The company is to report its Q3 figures on Nov 18
((marta.frackowiak@thomsonreuters.com))