Brief: Boozt Q3 EBIT Loss Widens To SEK 40.8 Mln

BOOZT AB

14/11/2019 07:07

Nov 14 (Reuters) - Boozt AB  BOOZT.ST :
    * 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

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