Boohoo.com - Re: BOO Stream Log - "boohoo recorded strong start of...

"boohoo recorded strong start of the FY2017. The Group expanded revenue across all regions, particularly strong in the UK as its strategy to expand third party sales turned very positive. The expansion in the number of partners helped to build its brand internationally and broaden customer reach. The Group now see 36% of its revenue outside of UK and it continued to gather momentum (given UK sales also growing well). Although increased third party sales along with planned investments in price and customer proposition have reduced the overall gross margin, as expected. Reduced marketing expenditure has offset some of this reduction and the Group said it will continued to work to build customer lifetime value. During the period, number of active customers, order frequency, basket size and conversion all increased, and boohoo continued to broaden its product range, increased fashion appeal and offered attractive prices to customers. With this in mind, together with adjusted EBITDA margin expected to be maintained at 9.6% and Board’s confidence in upgrading full year sales growth of between +25% to +30% (previous guidance stated c.+25%), we think it still has an upside potential at current share price level. We believe worldwide market for internet fashion sales will continues to expand as shopping preferences shift towards convenience and competitive pricing affordable by internet retailers, like of boohoo." Beaufort note out this morning on Research Tree