Boohoo cuts full-year guidance on COVID-19 uncertainty
Boohoo Group PLC said Thursday that it has downgraded its guidance on full-year net sales growth and its adjusted Ebitda margin due to increased consumer uncertainty related to the new coronavirus variant.
The company said its margin of adjusted earnings before interest, taxes, depreciation and amortization is now also anticipated to be between 6% and 7%, down from the previous guidance of 9%-9.5%, which implies an adjusted Ebitda of between 117 million and 139 million pounds . All of the company's international sales are being currently fulfilled from its U.K. distribution network, it reported.
Total net sales grew to GBP320.3 million in the U.K. for the quarter, up from GBP243.6 million for the year-earlier period.