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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN

AMAZON.COM, INC.

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Online fashion firm Boozt ups outlook again, but Amazon looms

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08/21/2020 | 03:17am EDT

Swedish online fashion retailer Boozt raised its 2020 profitability forecast for a second time in two months on Friday, after second-quarter sales jumped as many shoppers stayed at home in the COVID-19 pandemic.

Boozt and other Nordic retailers are, however, bracing for a pick-up in competition after U.S. e-commerce giant Amazon.com said earlier this month it was preparing to launch a Swedish site, confirming long-running rumours.

Boozt said second-quarter sales rose 38% from a year earlier to 1.22 billion Swedish crowns ($140.2 million) as its core platform Boozt.com grew 29% and cut-price Booztlet.com - on which the group has said it is increasing focus - jumped 168%.

Operating profit leapt 146%, to 120 million crowns.

"The migration from offline to online has accelerated and we have worked hard to strengthen our market position," CEO Hermann Haraldsson said.

"We welcomed more than 300,000 new Nordic customers to our platforms during the second quarter and they, as well as our returning customers, have increasingly shopped in our adjacent categories to fashion, such as kids, sport, and beauty. Men also increased its share of revenue," he said.

Boozt's shares were up 7% in early trade, taking their year-to-date rise to 116%.

Physical stores in the Nordic countries have largely not been forced to shut down during the pandemic, but other government restrictions and wariness among consumers have reduced footfall to varying extents.

Boozt, which does around 95% of business in the Nordics, forecast a full-year operating margin of 3.5-4.5%. In June it had forecast a margin of 3-4% on sales growth of 20-25%, a sharp increase on its previous projections.

(Reporting by Anna Ringstrom; Editing by Mark Potter)


Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.08% 3207.04 Delayed Quote.73.67%
BOOZT AB (PUBL) -6.70% 147.6 Delayed Quote.178.49%
UNITED PARCEL SERVICE, INC. -2.27% 168 Delayed Quote.43.52%
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Financials (USD)
Sales 2020 370 B - -
Net income 2020 16 459 M - -
Net cash 2020 53 158 M - -
P/E ratio 2020 99,8x
Yield 2020 -
Capitalization 1 606 B 1 606 B -
EV / Sales 2020 4,20x
EV / Sales 2021 3,49x
Nbr of Employees 798 000
Free-Float 81,3%
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Technical analysis trends AMAZON.COM, INC.
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 53
Average target price 3 747,34 $
Last Close Price 3 207,04 $
Spread / Highest target 40,3%
Spread / Average Target 16,8%
Spread / Lowest Target 4,77%
EPS Revisions
Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Dave Clark Senior Vice President-Worldwide Operations
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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