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Published
Apr 6, 2018
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Boohoo shares at 13-month low

Published
Apr 6, 2018

Clothing brand Boohoo saw its shares slump to their lowest level in 13 months on Wednesday after market analysts warned that its growth rate might be unsustainable.


Photo: Boohoo.com


Canadian bank RBC Markets sent a note to clients, saying:  “We do not think Boohoo's customer proposition is competitive enough to sustain higher levels of growth, not least without significant investment.”

The company cut its target price for the fast fashion retailer to 125p from 160p, and retained its ‘underperform’ rating on the stock.

The note sent Boohoo’s shares sliding by 6.8% to 141p on Wednesday. They have fallen by 15.8% over the last month.

The company needs to invest further in the business if it wants to maintain its advantage over its competitors, said RBC Markets.

“We therefore anticipate a margin re-set driven by price investments, rising customer acquisition costs and enhancements to enhance the proposition, particularly around delivery, where Boohoo is less competitive than its peers.”

Whilst Boohoo has continued to report growing revenues, its valuation has fallen by 45% since September, when a decline in margins spooked investors.

The group owns Boohoo, Nasty Gal and PrettyLittleThing.

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