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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Marks & Spencer Group plc    MKS   GB0031274896

MARKS & SPENCER GROUP PLC

(MKS)
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Fashion conscious Boohoo online sales bloom, lifting shares

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09/05/2019 | 04:21am EDT

LONDON (Reuters) - Britain's Boohoo raised its full-year revenue forecast on Thursday on strong demand from its young customers for brands like PrettyLittleThing and Nasty Gal, sending the online fashion firm's shares to an all-time high.

Shares in Boohoo, founded 14 years ago in Manchester, northern England, rose as much as 17% to an all-time high of 285.3 pence, as it said it expected its full-year revenue to rise between 33% and 38%, ahead of its previous 25% to 30% guidance, which would deliver a corresponding rise in earnings.

Online retailers like Boohoo are growing fast, often at the expense of traditional shopping outlets such as Marks and Spencer, whose share price fall has seen the 135-year-old retailer evicted from the blue-chip FTSE 100 index on Wednesday.

Boohoo had defied weak consumer confidence to deliver "another stellar performance over a warm summer", analysts at Jefferies said, forecasting a 3-4% rise in consensus for sales and core earnings in the year to February 2020.

Boohoo, which reports first-half results on Sept.25, said it expected margins to remain at around 10%, reflecting investments in the three brands - MissPap, Karen Millen and Coast - it acquired in the first half.

(Reporting by Paul Sandle, editing by James Davey and Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
BOOHOO GROUP PLC -0.51% 270.8787 Delayed Quote.68.54%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
MARKS & SPENCER GROUP PLC 1.30% 203.4 Delayed Quote.-15.15%
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Financials (GBP)
Sales 2020 10 209 M
EBIT 2020 545 M
Net income 2020 294 M
Debt 2020 1 389 M
Yield 2020 5,50%
P/E ratio 2020 13,4x
P/E ratio 2021 11,9x
EV / Sales2020 0,52x
EV / Sales2021 0,50x
Capitalization 3 908 M
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Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 26
Average target price 201,17  GBp
Last Close Price 200,60  GBp
Spread / Highest target 44,6%
Spread / Average Target 0,29%
Spread / Lowest Target -25,2%
EPS Revisions
Managers
NameTitle
Steve Rowe Chief Executive Officer & Executive Director
Archie J. Norman Chairman
Humphrey Stewart Morgan Singer Chief Financial Officer & Executive Director
Carl Dawson Director-Information Technology
Andrew Nigel Halford Senior Independent Non-Executive Director
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