Executive Summary

• Boohoo Group reported 1Q20 total sales of £254.3 million, up 39% year over year at constant exchange rates and as reported, and beating the consensus estimate of £253.7 million recorded by StreetAccount.
• The group’s gross margin marginally contracted 20 basis points to 55.0%.
• For FY20, the Group maintained its previous guidance of revenue growth in the range of 25% to 30% and an adjusted EBITDA margin of around 10%.