The Nordic Department Store continues profitable market share gains
With solid results for October and November delivering ahead of expectations Boozt now expects net revenue growth and profitability in the upper end of the range for outlook 2022.
“We experienced better momentum during November and executed our campaigns successfully, especially the Black Friday week with new record sales. We welcomed more than 100,000 new customers during the Black Friday week and benefited significantly from increased spending and loyalty from our existing customers. The strong underlying development of our long-term business drivers continued with high average order value supported by customers shopping across categories and adding more items to each basket. Further, the inventory position is competitive and healthy supported by a better sell through of the Autumn/Winter 2022 collection compared to last year.”
“Our newly expanded fulfillment operations handled the peak volumes impressively, and we set a record for number of orders handled per hour with ~15,000 during peak.”
Boozt expects a net revenue growth for 2022 in the upper end of the range of 10-15% and an adjusted EBIT in the upper end of the range of SEK 235-285 million.