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Are boohoo’s numbers as good as they seem?

15/01/2019 · ASOS (ASC)  · plc (BOO) 

AIM Shares UK

Are boohoo’s numbers as good as they seem?
Investors have responded badly to a strong trading update from boohoo. Are they right to have scarpered from the online fashion retailer?

A 9% share price fall seems like an odd reaction to a forecast-beating trading update. boohoo (BOO) has said that its revenue growth in the year to February 2019 will be between 43% and 45% - ahead of the previous guidance of 38% to 43% - thanks to a better than expected end to 2018.

But investors are nervy and with good reason. The UK’s online retail sector was shaken in December when boohoo’s closest peer ASOS (ASC) announced a major profit warning. Excessive discounting reduced the group’s average selling price in the three months to November 2018…

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