Brief: Boozt Upgrades 2020 Outlook On Stronger Than Expected Q3

BOOZT AB

07/10/2020 06:28

Oct 7 (Reuters) - Boozt AB  BOOZT.ST :
    * SAID ON TUESDAY 2020 OUTLOOK UPGRADED AFTER STRONGER THAN
EXPECTED Q3 
    * 2020 ADJUSTED EBIT MARGIN OUTLOOK IS UPGRADED TO 4.5-5.5%
(PREVIOUSLY 3.5-4.5%), WITH AN UNCHANGED NET REVENUE GROWTH
OUTLOOK OF 20-25%
    * Q3 IS EXPECTED TO SHOW A NET REVENUE GROWTH IN THE MIDDLE
OF THE
20-25% RANGE WITH AN ADJUSTED EBIT MARGIN EXPECTED TO BE IN THE
RANGE OF 5-6%
    * BETTER THAN EXPECTED DEVELOPMENT IN Q3 IS DRIVEN BY A GOOD
START
TO THE AUTUMN/WINTER SEASON AND IMPROVED GROSS MARGIN, MAINLY
DUE TO CAMPAIGN GOODS BEING AN UNUSUAL HIGH SHARE OF THE
INVENTORY MIX
    * ALL NORDIC MARKETS DEVELOPED WELL, BUT ESPECIALLY DENMARK
CONTINUES THE STRONG TRACTION
    * CURRENT LOWER STOCK LEVEL ENTAILS HIGHER THAN NORMAL
UNCERTAINTY
ON THE OUTLOOK FOR THE REST OF THE YEAR, WHICH IS REFLECTED IN
THE WIDE RANGE ON BOTH NET REVENUE GROWTH AND ADJUSTED EBIT
MARGIN    

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nMFN5N6JYr
    
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